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Question No.3 West Painter Ltd. is engaged in import and distribution of a branded paint from Europet. Following forecasted information is available relating to the company for the quarter ending 31 December 2021. Forecasted monthly demand for October and November is 2,500 units and it is expected the demand will increase by 50% in December Current selling price per unit Rs.4,000 It is expected selling price will increase in December by 20% Cost of sales represents 40% of the selling price Monthly fixed administrative expense Rs.1,500,000 Selling and distribution cost is 20% on sales income Monthly finance cost is Rs.200,000 Required a. Budgeted income statement for the quarter ending 31 December 2021 (monthly basis) (5 marks) b. Discuss the merits and demerits of budgetary control system in a highly uncertain business environment (5 marks) (10 marks)