51 Assume a company is preparing a budget for its first two months of operations During the first and second months it expects cash sales of $33,500 and $49,500, respectively It also expects credit sales of $59,500 and $69,500, respectively The company expects to collect 45 of its credit sales in the month of the sale, 50 in the following month, and 5 is deemed uncollectible What amount of cash collections would appear in the companys cash budget for the first month Multiple Choice $49,500 $60,275 $26,775 $76,275 52 Assume a company is preparing a budget for its first two months of operations During the first and second months it expects credit sales of $48,000 and $80,000, respectively The company expects to collect 60 of its credit sales in the month of the sale and the remaining 40 in the following month What is the expected cash collections from credit sales during the first month Multiple Choice $13,200 $19,200 $16,000 $28,800 53 Assume the following information Amount Per Unit Sales $ 300,000 $ 40 Variable expenses 112,500 15 Contribution margin 187,500 $ 25 Fixed expenses 36,000 Net operating income $ 151,500 The unit sales to break even is Multiple Choice 1,125 units 3,400 units 1,440 units 2,400 units 54 Assume the following The standard price per pound is $2 00 The standard quantity of pounds allowed per unit of finished goods is 4 pounds The actual quantity of materials purchased and used in production is 50,400 pounds The actual purchase price per pound of materials was $2 15 The company produced 13,000 units of finished goods during the period What is the materials price variance Multiple Choice $8,064 U $7,560 U $7,560 F $8,064 F 55 Assume the following (1) selling price per unit $25, (2) variable expense per unit $13, (3) unit sales 2,160, and (4) total fixed expenses $25,000 Given these four assumptions, net operating income must be Multiple Choice $27,160 $920 $29,000 $3,080

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51. Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales

51.

Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $33,500 and $49,500, respectively. It also expects credit sales of $59,500 and $69,500, respectively. The company expects to collect 45% of its credit sales in the month of the sale, 50% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the companys cash budget for the first month?

Multiple Choice

$49,500
$60,275
$26,775
$76,275

52.

Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $48,000 and $80,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale and the remaining 40% in the following month. What is the expected cash collections from credit sales during the first month?

Multiple Choice

$13,200
$19,200
$16,000
$28,800

53.

Assume the following information:

	Amount		Per Unit
Sales	$	300,000		$	40
Variable expenses		112,500			15
Contribution margin		187,500		$	25
Fixed expenses		36,000
Net operating income	$	151,500

The unit sales to break-even is:

Multiple Choice

1,125 units.
3,400 units.
1,440 units.
2,400 units.

54.

Assume the following:

The standard price per pound is $2.00.
The standard quantity of pounds allowed per unit of finished goods is 4 pounds.
The actual quantity of materials purchased and used in production is 50,400 pounds.
The actual purchase price per pound of materials was $2.15.
The company produced 13,000 units of finished goods during the period.

What is the materials price variance?

Multiple Choice

$8,064 U
$7,560 U
$7,560 F
$8,064 F

55.

Assume the following (1) selling price per unit = $25, (2) variable expense per unit = $13, (3) unit sales = 2,160, and (4) total fixed expenses = $25,000. Given these four assumptions, net operating income must be:

Multiple Choice