1.

Jay Vee Corporation, a merchandising company, estimates that its sales for 2016 will be $90,000, $120,000, $110,000, and $126,000, respectively, for each quarter. Its cost of goods sold is 65% of sales, the ending inventory as of December 31, 2015, was $35,100, and it prefers to maintain inventory with a cost of 60% of the next quarter's cost of goods sold. The production required for the first, second, and third quarters, respectively, are:

Group of answer choices

$70,200; $74,100; $77,740

$58,500; $74,100; $77,740

$80,000; $82,000; $87,000

$58,500; $89,700; $67,600

2.

A master budget consists of a projected income statement and a projected balance sheet.

Group of answer choices

True

False

3.

The Schraeger Company has estimated that sales for next quarter would be 30,000 units. The company has a beginning finished goods inventory of 2,000 units and wishes to have finished goods inventory of 5,000 units at the end of the quarter. How many units must the company produce in order to have its desired ending inventory?

Group of answer choices

37,000 units

27,000 units

33,000 units

30,000 units