10. What is a characteristic of a static budget? a. Adjusts for changes in activity levels. b. Remains unchanged regardless of actual activity. c. Is updated continuously. d. Reflects variable costs only. Zenith Ltd provided the following information for the next quarter: Sales: E300,000. Collections from customers: 80% in the month of sale, 20% in the following month Payments for purchases: $150,000 Operating expenses: $50,000 Income tax payments: $15,000. 11. Calculate the cash collections for the first month. a. $240,000. b. E300,000. C. $24,400. d. E30,000. 12. Calculate the cash collections for the second month. a. $64,000. b. E80,000. C. $60,000. . d. $90,000. 13. What is the company's expected profit for the quarter? . a. $85,000. b. E100,000. C. $245,000. d. $115,000. 14. What is the overhead cost variance if the standard overhead cost per unit is $8, and the actual overhead cost incurred is $9? a. El favourable. b. El adverse. c. f8 favourable. d. t8 adverse