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Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces, has an exclusive franchise...

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Accounting

Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces, has an
exclusive franchise on the distribution of the necklaces, and sales have grown so rapidly over
the past few years that it has become necessary to add new members to the management
team. To date, the company's budgeting practices have been inferior, and, at times, the
company has experienced a cash shortage. You have been given responsibility for all planning
and budgeting. Your first assignment is to prepare a master budget for the next three months,
starting April 1. You are anxious to make a favourable impression on the president and have
assembled the information below.
The necklaces are sold to retailers for $10 each. Recent and forecasted sales in units are as
follows:
image

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