MBS Finance

Please help

Question
The functional budgets prepared at ABC Ltd contains the following information :-
April May June July Aug
$000 $000 $000 $000 $000
Cash Sales 50 60 55 65 40
Credit Sales 800 750 675 600 550
Material Purchased 400 440 460 400 420
Wages & salaries 80 100 120 100 112
Factory Overhead expenses 135 145 160 155 145
Other overhead expenses 90 85 92 112 102


Additional Details are:
1) 4% of all credit sales become bad debts. These bad debts are not included in the other overhead budget above
2) One third of the remaining debtors will pay in the month following delivery,and
the other two third will take an additional month's credit
3)One half of the amount owing to creditors for material is paid in the month of
purchase, to obtain 3% cash discount for prompt payment. The other half is paid
in the month following purchase, when no cash discount is allowed by suppliers.
4) 75% of wages and salaries are paid in the month in which they are incurred; the remainder will be paid in the following month.
5) Depreciation is included in the above overhead budgets as follows
Plant & machinery - $45,000 per month
Office equipment & computer - $12,000 per month
6) All overhead expenses are paid in the month following the month in which
they are incurred

7) Plant will be sold in July for $5,000 cash, incurring a loss on disposal of $22,500

8) $102,900 is to be paid in July for purchase of an additional freehold buildings.
9) A dividend of $50,300 is to be paid in August.

Required
Assuming a bank overdraft of $70,000 on 31 May, prepare a Cash Budget for each of the three months of June, July and Aug