Study the information given below and prepare the Cash Budget of Fego Ltd for the period 01 February 2019 to 30 April 2019. (Note: The Cash budget must reflect separate monetary columns for each month.) INFORMATION The following information for 2019 was supplied by Fego Ltd in respect of Project K: Favourable bank balance on 31 January 2019 is estimated to be $40 000. Expected monthly sales are as follows: Units January: 6 500 February: 7000 March: 5 500 April: 7 200 The selling price per unit is $420. Ali the units produced each month are sold in the same month. Cash sales comprise 40% of the total sales and a 10% cash discount is granted to bulk customers who make up 60% of the cash sales. The balance of the sales is on credit. Oebtors pay one month after the sales Material purchases are forecast as follows: - December: year 2018: $290 000 January: year 2019: $270 000 February: year 2019: $260 000 March: year 2019: $220000 April: year 2019: $310000 Ali purchases of materials are on credit. Eighty percent (80%) of the material purchases are paid in the month after the purchase and 20% in the following month. Labour costs amount to $ 100 per unit and are paid for in the month in which they are incurred. Manufacturing overheads are estimated at $64 000 per month, of which $6 000 is for depreciation on machinery. Manufacturing overheads are payable in the month they are incurred. Fixed marketing and administrative costs are expected to amount to $45 000 per month, payable monthly. Sales commission is estimated to be 10% of the sales value (before any discounts allowed). These costs are paid by the end of the applicable month. A new motor vehicle costing $200 000 is to be purchased by cheque during February 2019. An old vehicle with a cost price of $ l00 000 and accumulated depreciation of $80 000 is expected to be sold at a profit of $5 000 du ring March 2019.