MASTER BUDGET The real-world (this company is in the northwest suburbs of Chicago) scenario: Your company assembles wire (light-metal) closet shelving units at a manufacturing facility and ships them to home builders and chain "big box" do-it-yourself stores. It is October, 2022 and you, the budget manager, just received an e-mail from the CFO, asking you to put together a 2023 budget. The projected (because the year is not yet over) 2022 financial information is below. There are three items for you to complete by filling in the applicable personalized information. Then you need to prepare a 2023 budget by filling in the 2023 boxes below and submitting to the CFO. So how to get that done? For a successful Master Budget, you would seek information and input from your company's: Sales Manager Production Manager Administration Manager This information (reflecting some real-world vagueness and uncertainty)

2022 Projected

Sales $ 2,340,000

Production Costs:

Direct Material 630,000

Direct Labor 420,000

Manufacturing Overhead (you fill in)

Other Expenses:

Sales commissions 468,000

Office/Mgmt. Salaries 325,000

Rent 180,000

Utilities 15,000

Supplies 20,000

All Other 55,000

Total costs and expenses (you fill in)

Net Income (you fill in)

Budget input from key personnel: