1.

Which of the following would be a factor to be considered in formulating a sales budget?

Group of answer choices

All of the other answers are correct.

The demand for the product

Level of advertising

Economic indicators

2.

The Seedling Company expects its sales to be $200,000 for the first quarter of 2016. It estimates that sales will increase by 10% each quarter. Based on past experience, it estimates that 60% of each quarter's sales will be on account and 40% will be for cash. Of the amount on account, 75% of which will be collected in that same quarter and 25% of which will be collected in the following quarter. The beginning balance in the Accounts Receivable account is $28,800, which will be collected in the first quarter. The balance in the Accounts Receivable account at the end of the third quarter will be:

Group of answer choices

$30,000

$108,000

$36,300

$42,000

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

4.

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

Group of answer choices

True

False