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Prepare a cash budget for January 2006 to March 2006 with the following information given. 5. Oct. Nov. Dec. Jan. Feb. Mar. Ap Sales 1400 1000 800 1000 1000 1200 1000 Production1250 1200 1000 800 1500 1750 1400 Cash balance at 1 January 2006 5500 Selling price 16.00 1/2 received in the production month being considered. 1/2 reccived two months later (e.g. in January receive 1/2 of January's plus 1/2 of November's) Direct labour 5.00 paid same month of production Direct materials5.00 paid the month before production Variable costs4.00 /2 paid in the month before production 1/2 paid in the month of production (e.g. for January, pay /2 in December plus 1/2 in January) Fixed costs1500 - 1500 per month January February March Opening balances Receipts (1) Receipts (2) TOTAL INCOME Direct labour Direct materials Variable costs (1) Variable costs (2) Fixed costs TOTAL COSTS NET TOTAL FOR MONTH