Create your companys budget using the Master Budget Template provided onTeams. Be sure to add notes to the spreadsheet with any explanations for costassumptions and references$/$citations for any researched costs. You will begraded on your calculations AND your logic! The following schedules should beincluded in your Master Budget: Sales Budget & Schedule of Cash Receipts Production Budget Direct Materials Budget & Schedule of Cash Disbursements Direct Labour Budget Manufacturing Overhead Budget Ending Finished Goods Inventory Budget Selling and Administrative Expense Budget Cash BudgetHere is some more information about your company: You will receive $50\%$ of your sales in the month the sale is made, $25\%$ thefollowing month, and $20\%$ in the following month $(2$ months from the originalsale$).5\%$ of sales are budgeted as uncollectible. You pay $40\%$ of your invoices in the month that the expense is incurred. Theremaining $60\%$ is paid in the following month. You have an agreement with RBC to provide you with a $$50,000$ line of creditat an interest rate of $9\%$ per annum $(0\mathrm{.}75\%$ per month$).$ All borrowing isconsidered to happen on the first day of the month, repayments are on thelast day of the month. Interest must be paid at the end of each month. Monthly interest is calculated using simple interest on any outstandingbalances from previous months AND any amounts borrowed that month. Your company can be headquartered in the Canadian province of yourchoice.

With an example explain