14. Amy Company produces and sells bikes. It expects to sell 15,000 bikes in March and had 1,200 bikes in finished goods inventory at the end of Februar. Amy Company would like to complete operations in March with at least 1,500 completed bikes in inventory. The bikes se Il for $100 each. On the budgeted income statement, what amount will be reported for for March? $1,650,000 $1,470,000 B. $1,380,000. D. $1,500,000. 4. When preparing a master budget, in which order from first to last are the following developed? A Production budget 2 B Direct materials budget CBudgeted income statement DSales budget A. ABDC. B. DABC. C. DCAB. D. CABD 11. Budgeted sales for the Kelsey Company for the first quarter are as follows January February March $250,000 $300,000 S500,000 Credit Sales The regular pattern of collection of credit sales is 40% in the month of sale and 60% in the month following sale. There are no bad debts. The budgeted cash collections for March would be: A. S500,000. C. $420,000 B. S320,000. D. $380,000. 12. Coles Company, Inc. makes and sells a single product, Product R. Three yards of Material K are needed to make one unit of Product R. Budgeted production of Product R is as follows: August September October 14,000 14,500 Budgeted production (in units) 15,500 The company wants to maintain monthly ending inventories of Material K equal to 20% of the following month's production needs. On July 31, 2,500 yards of Material K were on hand. The cost of Material K is $5.00 per yard. The company wants to prepare a Direct Materials Purchase Budget. The total cost of Material K to be purchased in August is: A. $197,500. C. $228,000. B. $253,500. D. $241,000