1) Jordan Company produces and sells basketballs. To guard against out of stock situations, the company requires that 20% of the next month's sales be on hand at the end of each month. Budgeted sales of basketballs over the next three months are: Budgeted sales in units October 80,000 Budgeted production for November would be: November 120,000 December 100,000 a. 140,000 units b. 124,000 units c. 116,000 units d. 100,000 units 2) The LaPann Company has obtained the following sales forecast data: Cash Sales Credit Sales July $80,000 $240,000 August September October $70,000 $50,000 $60,000 $220,000 $180,000 $200,000 The regular pattern of collection of credit sales is 30% in the month of sale and 70% in the month following the month of sale. There are no bad debts. The budgeted accounts receivable balance on September 30th is: a. $126,000 b. $154,000 c. $161,000 d. $186,000 3) Sander Co. has budgeted sales in units for the next four months as follows: July 7,000 units August 7,200 units September 8,000 units October 7,900 units Past experience has shown that the ending inventory for each month should be equal to 15% of the next month's sales in units. The company needs to prepare a production budget for the next four months. The beginning inventory for September should be: a. 1,080 units b. 1,200 units c. 1,185 units d. 1,170 units