Required: Part - A: Prepare a monthly operating budget for the third quarter (July-September) of 2020 (assuming the company operates from January 1st to December 31st of each year) including the quarterly total for each of the first eight schedules: (14.5 Marks) 1. Sales budget 1 marks 2. Production budget 1.5 marks 3. Direct material purchases budget 2 marks 4. Direct labour budget 1.5 marks 5. Overheads budget 1.5 marks 6. Selling and administrative expense budget 1.5 marks 7. Cost of goods sold budget 2 marks 8. Budgeted income statement 2 marks 9. Budgeted cash balance only for the month ending 31st of July. (Hence: you need to prepare detailed cash budget only for the month of July). 1.5 marks (Maximum of 2 marks will be deducted if the format of presentation is not good.) Page 3 of 4