Check my work The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: Estinated Balance Sheet Assets Cash Accounts receivable Raw materials inventory Pinished goods inventory Total current assets Equipment, gro8s Accumulated depreciation Equipment, net Total assets $50,000 434,240 84,210 368,000 936,450 602,000 151,000) 451,000 $1,387,450 196,610 Liabilities and Equity Accounts payable Short-term notes payable Total current liabilities 12,000 208,610 505,000 713,610 336,000 337,840 673,840 Long-term note payable Total liabilities Common stock Total stockholders' equity Total liabilities and equity $1,387,450 To prepare a master budget for April, May, and June of 2017, management gathers the following information: a. Sales for March total 23,000 units. Forecasted sales in units are as follows: April, 23,000; May, 15,300; June, 20,400; and July b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements. 23,000. Sales of 241,000 units are forecasted for the entire year. The product's selling price is $23.60 per unit and its total product cost is $20.00 per unit Prev 1017 Next >