Question: Task 2 - Cozzie Ltd (you can use the supplied excel spreadsheet on ELE for speed) Cozzie Ltd. manufactures and sells swimwear to retailers. The

Task 2 - Cozzie Ltd (you can use the supplied excel spreadsheet on ELE for speed) Cozzie Ltd. manufactures and sells swimwear to retailers. The cash budget has been prepared for the period January 2021 - June 2021: Februar January y March April May June E 3 E f f E Receipts Sales 78,000 94,600 172,350 198,000 210,000 220,000 Interest received 2,500 2,500 2,500 2,500 2,500 2,500 Total Receipts 80,500 97,100 174,850 200,500 212,500 222,500 Payments Purchases 120,000 110,800 82,600 74,800 66,200 58,200 Wages & Salaries 18,200 18,200 16,400 16,400 16,400 16,40 Machinery 85,000 Rent 3,600 3,600 Taxation 42,000 Other expenditure 4,100 3,200 3,100 4,800 3,200 3,60 Transportation costs 1,800 2,300 2,100 3,500 2,200 2,60 Final dividend payment 20,000 Total Payments 294,700 134,500 104,200 103,100 88,000 80,800 Overdraft interest (716) (875) (584) 181) Net cash (214,200 inflow/outflow (38,116) 69,775 96,816 124,319 141,700 Opening cash 171,800 (209,916 (140,140 balance 42,400 (43,324) 80,995 Closing cash (171,800 (209,916 (140,140 balance (43,324) 80,995 222,695 Additional information: Budgeted monthly figures (from the Income Period Sales Purchases November 2020 E 78,000 f130,000 December 2020 f 94,600 f120,000 May 2021 f 246,000 f 58,200 June 2021 f 235,000 f 62,400 All goods are sold on credit, a 60 day settlement period has been negotiated with customers. All purchases are bought on credit, a 30 day settlement period has been negotiated with suppliers

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