The management of KK Ltd wants to view their budgets for the coming year. The estimates for the next for month period are as follows March 80 une es (units 96 94 of raw materials (Units ages and variable overheads (at RM6 Fixed overheads unit unit focraw.materials, One unit of raw material is needed for each unit of production. All sales and purchases of raw materials are on credit. Debtors are allowed two months' credit and suppliers of raw materials are paid after one month's credit. The wages, variable overheads and fixed overheads are paid in the month in which they are incurred. Fixedoverhead is including, noncash expenditures of RM 200 per month) Cash from a loan secured on the land and buildings of RM1 20,000 at an interest rate of 7.5% is due to be received on 1 May. Machinery costing RM112,000 will be received in May and paid for in June. The loan interest is payable half yearly from September onwards. An interim dividend to 31 March 2015 of RM12.500 will be paid in June. Inventory at the beginning of March 2015 consists of. Raw materials (100 units) RM4320 Finished goods (110 units)RMl0.450 The total sales for January and February amounted to. RML680 and RM10,400 respectively, whilst purchases of raw material for February 2015 is RM3,900 Cash balance at the beginning of March 2015 is RM6,290 Ignore taxation. Required i. Calculate and present the raw materials budget and finished goods budget in terms of ii. Calculate the corresponding sales budgets (RM), the manufacturing cost budgetand the iii. Prepare and present a cash budget for each of the four months. units, for each month from March to June inclusive. budgeted ending finished goods inventory in terms of value Advise the company about possible ways in which it can improve its cash management. iv