Developing a Master budget jacobs incorporated manufactures a product with a selling price of 550 per unc. Units and monthly cont data foliow. Additional information: - The januwy 1 begininccant is projected as $7,000 - toch unt of firvihed product requires one unit of taw materials. jacobs pays all bills in the month incurred. All silles are on account with 50 percent collected the month of sale and the balance collected the following month. There ar inventories are in line with these policies, Actual unit sales for December and budgeted unit sales for January, February, and March of 2011 are as follows: Additional information - The January 1 beginniny cash is projected as 57,000 - For the purpose of operational budgeting units in the january i imvencory of finished goods are valued at variable manufacturing cost. - Each unit of finished product requires one unit of raw materials. - facobs intends to pay a cash dividend of $6,000 in januacy. NOTE: For the entire problem - do not use any negative signs with your answers unless appropriate for net income (loss) or ending bafance