Use the Information given below to answer the following questlons: 3.1Prepare the Cash Budget for January, February and March 2022 . (22 marks) (3 marks) 3.2Comment on the cash position of the company for the budgeted pertod. IHFORMATION 1. Some of the liems in the Statement of Financlal Poeition as at 31 December 2021 of Lomax L.d are 2. The following forecasts have been made by Lomax Ltd for the fret three months of 2022 for that it produces which are sold in pallets (which each pallet comprising 500 bricks): 2.1 The bricks are sold at a constant price of R500 per pallet. Ten percent (10\%) of the sales are for cash and the rest is on credi. Debtors pay thelr acsounts one month ater the sale is made. 2.2 2.3 The purchases manager expects to purchase matertals to manufacture the follosing number of 2.4 Stxty percent (60\%) of the materlals are purchased for cash in order to take advantage of discount and the balance is purchased on credi.. Credi:ors are pald in the month atter the purchase. purchase. 2.5 Direct labour costs are incurred in line with production and will be pald during the month in which they are Incurred. 2.6 Varlable manufacturing overheads are payable in the month in which they are incured. 2.7 Fixed manufacturing and non-manacturing costs are expected to amount to R550 000 per month, excluding depreclation of R75 D00 per month. These coets are payable in the month in which they are incured. 2.8 The sales commission of 6% is payable in the month in which it is incurred. 2.9 Additional adninistration costs of R40 per unit sold are payable in the monith in which they are insurted. 2.10 The company will Invest 10% of the total sales for March in a notice deposit account on 31 March 2022 2.11 The balance of the current labilitles as at 31 December 2021 will be settled during January