9. The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information:

Sales at $530,000, all for cash.

Merchandise inventory on October 31 was $240,000.

The cash balance November 1 was $26,000.

Selling and administrative expenses are budgeted at $84,000 for November and are paid for in cash.

Budgeted depreciation for November is $41,000.

The planned merchandise inventory on November 30 is $270,000.

The cost of goods sold is 70% of the selling price.

All purchases are paid for in cash.

There is no interest expense or income tax expense.

The budgeted cash receipts for November are:

a. $395,000

b. $530,000

c. $135,000

d. $571,000

10. LFM Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 3.0 hours of direct labor at the rate of $26.00 per direct labor-hour. Management would like you to prepare a Direct Labor Budget for June.

The budgeted direct labor cost per unit of Product WZ would be:

a. $78.00 per unit

b. $26.00 per unit

c. $7.00 per unit

d. $46.00 per unit

11. LFM Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 3.3 hours of direct labor at the rate of $29.00 per direct labor-hour. Management would like you to prepare a Direct Labor Budget for June. The company plans to sell 36,000 units of Product WZ in June. The finished goods inventories on June 1 and June 30 are budgeted to be 580 and 160 units, respectively. Budgeted direct labor costs for June would be:(Do not round intermediate calculations.)

a. $3,442,506

b. $3,405,006

c. $1,036,500

d. $3,423,756