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If you were asked ti cpare a master budget for your company, the first step...

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Accounting

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If you were asked ti cpare a master budget for your company, the first step would be to complete the: Multiple Choise the budgeted income statement the diect materialt purchsse budget the rales forecast or soles buiget. the production eudget Atomic Ak, lnc. sells sthletc wear to retail stares with cliontele locking for something unique and different. The company has been working through a budgeting process to help them make better managerial deckions regarding the future. Alomic Ar's occountants have pulled together the following information and estimates: - Sales are budgeted at $302,000 for January. $322,000 for February, and $222,000 for Mareh. - The company expects to collect 65% from its customers in the month of sale and 35% in the month following the sale. - The cost of goods sold is 806 of sales. - The desized endiny uventory at the end of each month is equal to 70% of the next month's cost of goods sold. - Al inventory purchases are paid in the month following the purchase. - Other monthly expenses to be paid in cash are $22.300. - Monthly depreciation is $27,000 - Ignore taxes

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