The Management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017:

The management of Zigby Manufacturing prepared the following estimated balance sheet for March 2017: Estinated Balance Sheet March 31, 2017 Accounts receivable Raw materials inventory Finished goods inventory 50,000 434, 240 84,210 Equipment,gross 602, 000 Liabilities and Equity 196, 610 Short-term notes payable Total current liabilities Long-teen note payable 3, 620 Total stockholders' equity Total 1iabi1ities and tsequity673.840 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, 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 b. Company policy calls for a given month's ending raw materials inventory to equal 50% of the next month's materials requirements. The March 31 raw materials inventory is 4,210 units, which complies with the policy. The expected June 30 ending raw materials inventory is 4,100 units. Raw materials cost $20 per unit. Each finished unit requires 0.50 units of raw materials. c. Company policy calls for a given month's ending finished goods inventory to equal 80% ofthe next month's expected unit sales. The March 31 finished goods inventory is 18,400 units, whiclh