E-Lan Electronics Budgeting Project As the head accountant for E-Lan Electronics, you are responsible to prepare the company's master budget for the next fiscal period. The administrative and divisional managers have prepared the appropriate information (found below) for you to prepare the budget. In addition to the compiled information, you will also find the budgets, reports, questions, and statements required by the CFO. Step 1 E-Lan Electronics produces Widgets for sale at local electronic stores. The company is in the process of creating a master budget for the first quarter of the coming Results from the prior year are: Last Year Maalting 240,000 210,000 May 230,000 Unit Sales are to expected increase 15% and each unit is expected to sell for $40. The management prefers to maintain ending finished goods inventory equal to 10% of next month's sales.