You are the internal accountant for Bob's Burgers. Bob has asked you to prepare the master budget for the first quarter of $2025($January $-$ March$),$

except for the budgeted cashflow statement, because Bob doesn't care about it$.$

Much of the information required is provided within the company templates. Additional required information is:

$-$Bob's Burgers projects the first quarter sales to be $$40,000$ in January, $$35,000$ in February, $$45,000$ in March, and $$40,000$ in April.

$-$Bob's Burgers incurs fixed monthly expenses of $$10,000$ for employee salaries, $$1,500$ for rent, and $$1,000$ for depreciation.

$-$Bob's Burgers allocates $$200$ of pre$-$paid insurance to each month.

$-$If there

$-$As of January $1$st$,2025,$ it is expected there will be an $$1,800$ balance in pre$-$paid insurance.

$-$As of January $1$st$,2025,$ it is expected there will be a $$4,000$ balance in accumulated depreciation.

$-$As of January $1$st$,2025,$ it is expected there will be a $$75,700$ balance in retained earnings.

$-$As of January $1$st$,2025,$ equipment balance is $$17,000.$

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Transcribed Image Text:

January February March Jan - Mar Total Cash (70%) Credit (30%), one month after sale $11,000 Total January February March Jan - Mar Total Cash (70%) Credit (30%), one month after sale $11,000 Total