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Answer any TWO (2) questions only. QUESTION 1 (25 MARKS) The Income Statement of Malaysia...

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Answer any TWO (2) questions only. QUESTION 1 (25 MARKS) The Income Statement of Malaysia Milk Sdn Bhd for the months ended 31 July and 31 August 2020 are as follows: July Aug Sales (units) 12,000 15,000 RM RM Sales revenue 300,000 375,000 Less Total Cost Direct materials 60,000 75,000 Indirect materials 12,000 12,000 Direct labour 48,000 60,000 Indirect labour 20,000 20,000 Rent 5,000 5,000 Depreciation 6,000 6,000 Inspection costs 7,000 7,000 Electricity 29,000 35,000 Supervisors' salaries 24,000 28,500 211,000 248,500 Profit/Loss 89,000 126,500 REQUIRED: (a) Explain THREE (3) functions of cash budget. (9 marks) (b) Prepare a budget in the same format for the month ended 30 September 2020 assuming that the factory will manufacture and sell 16,000 units during the month. I (16 marks)

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