Jeffrey vaughn, president of frame-it company, was just concluding a budget meeting with his senior staff. it was november of 20×0, and the group was discussing preparation of the firm’s master budget for 20×1. "i’ve decided to go ahead and purchase the industrial robot we’ve been talking about. we’ll make the acquisition on january 2 of next year, and i expect it will take most of the year to train the personnel and reorganize the production process to take full advantage of the new equipment."