LBL Corporation-master budget

LBL Corporation is preparing its master budget for the first quarter of the upcoming year.  The following contains detail on LBL’s operations necessary for their master budget:

·         Sales Information:

o    Actual / Projected Sales are as follows:

§  December (Prior Year; Actual):   $70,000

§  January (Estimated):   $80,000

§  February (Estimated):   $92,000

§  March (Estimated):   $99,000

§  April (Estimated):   $97,000

§  May (Estimated):   $85,000

o    Units are sold at $10 each

o    Sales in a month are paid in cash for 30% and on credit for the remainder with credit collection occurring in the month following the sale.