Fussy Hair Ltd has decided to prepare a cash budget for the quarter

Required:Using Excel, answer the questions below. Use one tab per questionand also include any written response within Excel.Note that marks are also allocated for professional presentation andthe use of formulas within Excel.QUESTION 3 (21 marks)Fussy Hair Ltd has decided to prepare a cash budget for the quarterending 30st September 2016. Services are provided on 30 day creditterms. As at 1 July 2016, the Cash at bank ledger account had a debitbalance of $500,000.The following estimates have been made for the next three months:JulyAugustSeptemberSales200,000300,000400,000Cash purchases150,000140,000160,000Cash wages15,00020,00028,000Depreciation on plant80,00080,00080,000Electricity expenses10,00011,00011,500Insurance expenses36,20036,20037,000Loan repayment020,00020,000All sales are on credit.It is expected that debtors will pay their accounts as follows:50 per cent in the month following the sale.* 20 per cent in the second month following the sale.* 30 per cent in the third month following the sale.Actual sales for the previous three months were as follows:$300,000 in April 2016$290,500 in May 2016* $320,000 in June 2016Electricity expenses and insurance expenses are paid the followingmonth after they are incurred. June expenses were as follows:Electricity expenses $8,000Insurance expenses $35,000REQUIRED:Part A: Prepare a schedule of cash receipts from debtorsfor the period ending 30th September 2016.(7 marks)Part B: Prepare a Cash budget for the Quarter ending 30thSeptember 2016. (14 marks)QUESTION 4 (9 marks)Terrific Tables Pty Ltd incurred the following costs to produce jobnumber TB300, which consisted of 500 office desks.Direct material:1 June Requisition no. 520: 900 metres of timber @ 8.00 per metre18 June Requisition no. 101: 600 metres of steel @ $0.20 per metreDirect labour:18 June Timesheet no. 72:500 hours@$14 per hourManufacturing overhead:Applied on the basis of direct labour hours @$12 per hourAdditional information:Job TB300 was completed on 18 June.REQUIRED:Prepare a job cost sheet and record the information given above andalso a cost summary for job TB300.