Question: Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per unit.

Fortune, Inc., is preparing its master budget for the first quarter. The company sells a single product at a price of $25 per unit. Sales (in units) are forecasted at 43,000 for January, 63,000 for February, and 53,000 for March. Cost of goods sold is $12 per unit.

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