1a. What are the expected cash collections for February?

1b. How many units should be produced in February?

1c. What is the expected cost of raw material purchases in February?

1d. If the cost of raw material purchases in January is $43,660, then what are the estimated cash disbursements (cash out) for raw material purchases in February?

1e. What is the total estimated direct labor cost for February, assuming the workforce is adjusted to match the hours required to produce the forecasted number of units?

Craney Corporation makes one product and provided the following information to help prepare the master budget for the next 4 months of operations: - Budgeted Selling Price is $87/unit Budgeted unit sales (all on credit) are: March April January 7100 February 8300 13700 13600 - 20% of credit sales are collected in the month of the sale and 80% in the following month. Desired Ending Finished Goods Inventory is 40% of following months' sales. Desired Ending Raw Materials Inventory is 40% of following months' production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $1.00/pound. - 30% of raw material purchases are paid for in the month of the purchase, and 70% in the following month. - The direct labor wage rate is $19/hour. Each unit of finished goods requires 2.7 direct labor hours