7 Ratchet Manufacturing anticipates total sales for August, September, and October of $160,000, $170,000, and $180,500 respectively. Cash sales are normally 30% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of accounts receivable to be reported on the company's budgeted balance sheet for August 10 points 8 0226.50 Multiple Choice $112,000 eBook Ask $119,000. $48,000. $160,000 $51,000. Shore Company reports the following information regarding its production cost. 5 10 points Units produced Direct labor Direct materials Variable overhead Fixed overhead 34,000 units 29 per unit $ 30 per unit $ 10 per unit $100,920 in total 02:27:24 Compute product cost per unit under absorption costing. eBook Multiple Choice Ask $59.00 $71.97 $67.00 $30.00 $29.00 6 During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $7 per unit, Direct labor, $5 per unit, Variable overhead, $6 per unit, and Fixed overhead, $350,000. The company produced 35,000 units, and sold 28,000 units, leaving 7,000 units in inventory at year-end. Income calculated under variable costing is determined to be $395,000. How much income is reported under absorption costing? 10 points 2 02:27:12 Multiple Choice eBook $745,000 Ask O $465,000 $395,000 $325,000 $406,000