ues. 2: XYZ Ltd. prepares the Master budget for last quarter of 2020-21. The related data is as follows: .Sales forecasts (in units): January 75000 February 90000 March 120000 April 80000 W Manufacturing cost (based on prior experience and expected escalation) Variable Costs [Direct Material + Direct Labour + Variable Overheads]Rs. 615 per unit Fixed Overheads Rs. 26,433,750 per Quarter Normal Capacity is 278,250 units per Quarter. Absorption costing is to be used. The company maintains 25% of next month's sales as the closing inventory of finished goods for the current month. Sales price: Rs. 900 per unit. All sales are on credit basis. In a typical month, 35% of sales is recovered within 20 days period. The company offers 1% cash discount on such sales. Required: (1) Based on the information mentioned above, prepare the budgeted P&L statement for February 2021 Show all the related calculations in detail. (ii) Determine the value of the Closing stock of Finished Goods for February 2021