23. Jones Company developed the following static budget at the beginning of the company's accounting period Revenue (8,000 units) $ 16,000 Variable costs 4.000 Contribution margin $ 12,000 Fixed costs 4,000 Net income $ 8.000 If actual production totals 8,200 units, the flexible budget would show total costs of: A) $8,000 B) $8,100. C) $8,200 D) None of these are correct 24. Which of the following would represent the order in which most master budgets are prepared A) Sales, Income Statement, Cash, Purchases B) Purchases, Cash, Sales, Income Statement C) Purchases, Sales, Cash, Income Statement D) Sales, Purchases, Cash, Income Statement 25. Campbell Candy Corporation desires 16 return c entro al operations. The following information was available for the company for the current year: Sales $ 250,000 Operating Income $ 70,000 Turnover 0.6 What is the corporation's ROI? A) 16 8% B) 28% UN Impossible to determine from the information given. 26. Richards Company sells cellular phone accessories. The marketing director developed the following cost of goods sold bude for July, August September, and October July August September October Budgeted cost of goods sold $85,000 $92,000 $79,000 $88,000 Richards had a beginning inventory balance of $17.000 on July 1 and a beginning balance in Accounts Payable of $19.490. company desires to maintain an ending inventory balance equal to 20 percent of the next period's cost of goods sold. Rich makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the rer 30 percent in the month following purchase. Required a. Prepare an inventory purchases budget for July, August, and September. July August September Budgeted COGS Plus Desired Ending Inventory Total Inventory Needed Less Beginning Inventory Required Purchases