The functional budgets prepared at Fairlady Sdn Bhd contain the following information:

	April RM000	May RM000	June RM000	July RM000	August RM000
Cash sales	50	60	55	65	40
Credit sales	800	750	675	600	550
Materials purchased	400	440	460	400	420
Wages and salaries	80	100	120	100	112
Factory overhead expenses	135	145	160	155	145
Other overhead expenses	90	85	92	112	102

Additional details are:

• 4% of all credit sales become bad debts. These bad debts are not included in the overhead budget above.
• One third of the remaining debtors will pay in the months following delivery; the other two thirds will take an additional months credit.
• One half of the amount owing to creditors for materials is paid in the month of purchase, to obtain 3% cash discount for prompt payment. The other half is paid in the month following purchase when no cash discount is allowed by suppliers.
• 75% of wages and salaries are paid in the month in which they are incurred; the remainder will be paid in the following month.
• Depreciation is included in the above overhead budgets as follows:
  • Plantandmachinery - RM45,000 per month
  • Officeequipment/computers - RM12,000 per month

• All overhead expenses are paid in the month following the month in which they are incurred.
• Plant will be sold in July for RM5,000 cash, incurring a loss on disposal of RM22,500.
• Rm102,900 is to be paid in July for purchase of an additional freehold building
• A dividend of RM50,300 is to be paid inAugust

Required:

Assuming a bank overdraft of RM70,000 on 31 May, prepare a tabular Cash Budget for each of the three months of June, July and August.

PLEASE GIVE YOUR ANSWER IN WORD FORMAT NOT IN EXCEL FORMAT. HANDWRITTEN ASSIGNMENT NOT ACCEPTED.