Waterways Corporation is preparing its budget for the coming year, 2017. The first step is to plan for the first quarter of that coming year. The company has gathered information from its managers in preparation of the budgeting process. This problem asks you to prepare the various budgets that comprise the master budget for 2017.

Go to the book’s companion website, at www.wiley.com/college/weygandt, to see the completion of this problem.