158. Cahuilla Corporation predicts the following sales in units for the coming four months:

		April		May		June		July
Sales in Units		320		360		380		320

Each month's ending finished goods inventory should be 40% of the next month's sales. March 31 finished goods inventory is 128 units. A finished unit requires 5 pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 280 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is:

• 216 units.

• 296 units.

• 368 units.

• 512 units.

• 360 units.

159. Boulware Companys budgeted production calls for 6,400 units in October and 9,400 units in November. Each unit requires 8 pounds (lbs.) of raw material A. Each months ending inventory of raw materials should equal 30% of the following months budgeted materials requirements. The October 1 inventory for this material is 15,360 pounds. What is the budgeted materials purchases for this key material in pounds for October?

• 51,200 lbs.

• 46,180 lbs.

• 58,400 lbs.

• 73,760 lbs.

• 89,120 lbs.

174. Masterson Company's budgeted production calls for 67,000 liters in April and 63,000 liters in May of a key raw material that costs $1.65 per liter. Each month's ending raw materials inventory should equal 20% of the following month's budgeted materials. The April 1 inventory for this material is 13,400 liters. What is the budgeted materials purchases for April?

• $109,230.

• $114,510.

• $131,340.

• $110,550.

• $88,440.

196. On February 15, Jewel Company buys 8,400 shares of Marcelo Corp. common stock at $29.23 per share plus a brokerage fee of $470. The stock is classified as available-for-sale securities. This is the companys first and only investment in available-for-sale securities. On March 15, Marcelo Corp. declares a dividend of $1.50 per share payable to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $30.00 per share less a brokerage fee of $320. The journal entry to record the sale of the 4,200 shares of stock on November 17 is:

• Debit Cash $126,000; credit Long-Term Investments-Trading $122,766; credit Gain on Sale of Long-Term Investments $3,234.

• Debit Cash $125,680; credit Long-Term Investments-AFS $122,766; credit Gain on Sale of Long-Term Investments $2,914.

• Debit Cash $125,680; credit Long-Term Investments-AFS $123,001; credit Gain on Sale of Long-Term Investments $2,679.

• Debit Cash $126,000; credit Long-Term Investments-Trading $122,766; debit Gain on Sale of Long-Term Investments $3,234.

• Debit Cash $126,000; credit Long-Term Investments-AFS $123,001; credit Gain on Sale of Long-Term Investments $2,999.