Jesper Manufacturing
is preparing its master budget for the first quarter of the
upcoming year. The following data pertain to Jesper Manufacturing's
operations:
Current Assets as of
December 31 (prior year):
Cash
$4,460
Accounts receivable, net
$52,000
Inventory
$15,400
Property, plant, and
equipment, net
$122,000
Accounts payable
$44,000
Common stock
$126,860
Retained
earnings
$23,000
Actual sales in December were $76,000. Selling price per unit
is projected to remain stable at $9 per unit throughout the budget
period. Sales for the...