20 Lemon, Inc. has prepared the following budgets for March. In March, budgeted production is 1,000 units, budgeted sales is 1,200 units, and direct materials inventory and unit costs will stay constant. 01:22:36 Direct materials $11,250 Direct labor $ 17,650 Manufacturing overhead $23,250 Selling and administrative expense $19, 250 What is budgeted cost of goods sold for March? Multiple Choice $60,580 $52,150 $62,580 9 Grover has forecast sales to be $128,000 in February, $137,000 in March, $151,000 in April, and $148,000 in May. The average cost of goods sold is 70% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in March? 01:22:26 Multiple Choice $133,400 $94,100 $137,400 $96.900 18 Jackson Inc. produces leather handbags. The production budget for the next four months is: July 5,400 units, August 7,900 units, September 7,900 units, October 8,200 units. Each handbag requires 0,4 square meters of leather. Jackson Inc.'s leather inventory policy is 40% of next month's production needs. On July 1 leather inventory was expected to be 864 square meters. What will leather purchases be in July? 01:22:16 Multiple Choice 2,310 square meters O 2,560 square meters 3,585 square meters 2,710 square meters 17 Madrid Co. has a direct labor standard of 4 hours per unit of output. Each employee has a standard wage rate of $12.00 per hour. During February, Madrid Co. paid $99,500 to employees for 9,150 hours worked. 2,400 units were produced during February. What is the direct labor efficiency variance? 8 0122:05 Multiple Choice $302 favorable $10,300 favorable $5,400 favorable $6,100 favorable 16 Maple Inc. manufactures a product that costs $38 per unit plus $47,000 in fixed costs each month. Maple currently sells 10,000 of these units per month for $59 each. If Maple leased a machine for $30,000 a month, it could add features to the product that would allow it to sell for $63 each. It would cost an additional $7 per unit to add these features. How much would Maple's profit be affected if it leased the machine and added features to its product? 01:21:50 Multiple Choice Decrease $60,000 Increase $10,000 Increase $530,000 Decrease $530,000