The following data relate to ARD Limitet as on March 31, 2021: Accounts payable (all for...

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The following data relate to ARD Limitet as on March 31, 2021: Accounts payable (all for March purchases) Rs 40,000 Taxes payable (all for March income) Rs 25,000 Cash Rs 3,00,000 Accounts receivable (all from March sales) Rs 2,50,000 Raw materials on 31 March (9,600 kgs X Rs 3) Rs 28,800 the following is the sales forecast for the first quarter of the next year at selling price per unit Rs 80. The sales for April, May and June are expected to be 9000, 12000 and 16000 units respectively. Other information required for forecasting is given below: The management desires closing inventory to equal 20 per cent of the following month's sales. The manufacturing costs are as follows: Direct materials per unit (5 kgs X Rs 3) is Rs 15. Direct labour is Rs 5. Variable overheads is Rs 9. Total fixed overheads (per annum) is Rs 7,20,000 Each unit of final product requires 5 kgs of raw materials. management desires closing raw material inventory to equal 20 per cent of the following month's requirements of production. fixed selling and administrative expenses are Rs 20,000 per month and variable selling and administrative expenses are Rs 5 per unit sold. All sales are on account. Payment received within 10 days from the date of sale are subject to a 2 per cent cash discount. In the past, 60 per cent of the sales were collected during the month of sale and 40 per cent are collected during the following month. Of collections during the month of sale, 50 per cent are collected during the discount period. Accounts receivable are recorded at the gross amount and cash discounts are treated as a reduction in arriving at net sales during the month they are taken. Tax rate is 35 per cent. Additional information: All purchases are on account. Two-thirds are paid for in the month of purchase and one-third, in the following month. Fixed manufacturing costs include depreciation of Rs 20,000 per month. Taxes are paid in the following month. All other costs and/or expenses are paid during the month in which incurred You are required to prepare cash budget for the month of April. The following data relate to ARD Limitet as on March 31, 2021: Accounts payable (all for March purchases) Rs 40,000 Taxes payable (all for March income) Rs 25,000 Cash Rs 3,00,000 Accounts receivable (all from March sales) Rs 2,50,000 Raw materials on 31 March (9,600 kgs X Rs 3) Rs 28,800 the following is the sales forecast for the first quarter of the next year at selling price per unit Rs 80. The sales for April, May and June are expected to be 9000, 12000 and 16000 units respectively. Other information required for forecasting is given below: The management desires closing inventory to equal 20 per cent of the following month's sales. The manufacturing costs are as follows: Direct materials per unit (5 kgs X Rs 3) is Rs 15. Direct labour is Rs 5. Variable overheads is Rs 9. Total fixed overheads (per annum) is Rs 7,20,000 Each unit of final product requires 5 kgs of raw materials. management desires closing raw material inventory to equal 20 per cent of the following month's requirements of production. fixed selling and administrative expenses are Rs 20,000 per month and variable selling and administrative expenses are Rs 5 per unit sold. All sales are on account. Payment received within 10 days from the date of sale are subject to a 2 per cent cash discount. In the past, 60 per cent of the sales were collected during the month of sale and 40 per cent are collected during the following month. Of collections during the month of sale, 50 per cent are collected during the discount period. Accounts receivable are recorded at the gross amount and cash discounts are treated as a reduction in arriving at net sales during the month they are taken. Tax rate is 35 per cent. Additional information: All purchases are on account. Two-thirds are paid for in the month of purchase and one-third, in the following month. Fixed manufacturing costs include depreciation of Rs 20,000 per month. Taxes are paid in the following month. All other costs and/or expenses are paid during the month in which incurred You are required to prepare cash budget for the month of April.

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