You are presented with the budgeted data for the period November 20X1 to June 20X2 by your firm. It has been extracted from the other functional budgets that have been prepared. You are also told the following: Sales are 40% cash, 60% credit. Credit sales are paid two months after the month of sale. Purchases are paid the month following purchases. 75% of wages are paid in the current month and 25% the following month. Overheads are paid the month after they are incurred. . Dividends are paid three months after they are declared. Capital expenditure is paid two months after it is incurred. The opening cash balance is f15,000. Nov X1 Dec X1 Jan X2 Feb X2 Mar X2 Apr X2 May X2 June X2 f f f f f f f f Sales 80,000 100,000 110,000 130,000 140,000 150,000 160,000 180,000 Purchases 40,000 60,000 80,000 90,000 110,000 130,000 140,000 150,000 Wages 10,000 12,000 16,000 20,000 24,000 28,000 32,000 36,000 Overheads 10,000 10,000 15,000 15,000 15,000 20,000 20,000 20,000 Dividend 20,000 40,000 Capital 30,000 40,000 expenditure What is the net cash balance carried forward at the end of June 20X2?You are presented with the budgeted data for the period November 20X1 to June 20X2 by your firm. It has been extracted from the other functional budgets that have been prepared. You are also told the following: Sales are 40% cash, 60% credit. Credit sales are paid two months after the month of sale. Purchases are paid the month following purchases. 75% of wages are paid in the current month and 25% the following month. Overheads are paid the month after they are incurred. . Dividends are paid three months after they are declared. Capital expenditure is paid two months after it is incurred. The opening cash balance is f15,000. Nov X1 Dec X1 Jan X2 Feb X2 Mar X2 Apr X2 May X2 June X2 f f f f f f f f Sales 80,000 100,000 110,000 130,000 140,000 150,000 160,000 180,000 Purchases 40,000 60,000 80,000 90,000 110,000 130,000 140,000 150,000 Wages 10,000 12,000 16,000 20,000 24,000 28,000 32,000 36,000 Overheads 10,000 10,000 15,000 15,000 15,000 20,000 20,000 20,000 Dividend 20,000 40,000 Capital 30,000 40,000 expenditure What is the net cash balance carried forward at the end of June 20X2?Comment critically on the following statements that you have overheard: (a) 'Direct labour hours are the most appropriate basis to use to charge indirect cost (overheads) to jobs in the modern manufacturing environment where people are so important.' (b) 'Activity-based costing is a means of more accurately accounting for direct labour cost.' (c) 'Activity-based costing cannot really be applied to the service sector because the 'activities' that it seeks to analyse tend to be related to manufacturing.' (d) 'Kaizen costing is an approach where great efforts are made to reduce the costs of develop- ing a new product and setting up its production processes.' (e) 'Benchmarking is an approach to job costing where each direct worker keeps a record of the time spent on each job on his or her workbench before it is passed on to the next direct worker or into finished inventories (stock) stores