2 A B C D E 4 PROJECT 1: MASTER BUDGET 5 The real-world (this company is based in the northwest suburbs of Chicago) scenario: 6 Your company assembles wire (light-metal) closet shelving units at a manufacturing facility and 7 ships them to home builders and chain "big box" do-it-yourself stores. 8 9 It is October, 2022 and you, the budget manager, 10 just received an e-mail from the CFO, asking you to put together a 2023 budget 11 12 The projected (because the year is not yet over) 2022 financial information is below. 13 There are three items for you to complete by filling in the applicable personalized information. 14 Then you need to prepare a 2023 budget by filling in the 2023 boxes below and submitting to the CFO. 16 So how to get that done? 17 For a successful Master Budget, you would seek information and input from your company's: 18 Sales Manager 19 Production Manager 20 Administration Manager 21 This information (reflecting some real-world vagueness and uncertainty) is provided further below: 22 23 Sales 2022 Projected $ 2,340,000 24 25 Production Costs: 26 Direct Material 27 Direct Labor 630,000 420,000 28 Manufacturing Overhead (you fill in) 29 30 Other Expenses: 31 Sales commissions 468,000 32 Office/Mgmt. Salaries 330,000 33 Rent 180,000 34 Utilities 18,000 35 Supplies 20,000 36 All Other 45,000 37 Project 1 Master Budget + Ready 2023 Budget