Write a memo to Jim Dixon, the president of Adler Company, in which you define budgeting, identify the budgets that comprise the master budget, identify the primary benefits of budgeting, and discuss the essentials of effective budgeting. Edington Electronics Inc. produces and sells two models of pocket calculators XQ-103 and XQ-104. The calculators sell for $15 and $25, respectively. Because of the intense competition Edington faces, management budgets sales semiannually. Its projections for the first 2 quarters of 2014 are as follows. No changes in selling prices are anticipated