Wages for labour are paid in the month they are incurred. All of the fixed overheads (production, administration and selling) are paid for one month in arrears, i.e., the following month. Half of the variable production overheads are paid in the month incurred and the remainder the following month. Tokyo Ltd sells each unit of ZYX at 10. 30% of its customers pay the month following their purchases. Another 30% take two months to pay and the remainder is on a cash basis. Tokyo Ltd allows a 5% cash discount on all its cash sales and it does not anticipate any bad debt in the foreseeable future. Required: (a) Prepare Tokyo's cash budget for the month June 20X1. Assume the firm will have a cash balance of 90,000 on 1st of June 20X1. (10 marks) (b) Describe the main objective of a cash budget. (5 marks) (Total 15 marks)