9. The starting point in preparing a master budget is the preparation of the a production budget b. sales budget c. purchasing budget d. personnel budget 10. Kam Department Store reported the following information for 2019: October November December Budgeted sales $1.240,000 $1,160,000 $1,440,000 All sales are on credit Customer amounts on account are collected 50% in the month of sale and 50% in the following month. How much cash will Kam receive in November? a $580.000 b. $1,300,000 c. $1,200,000 d. $1,160,000 11. A critical factor in budgeting for a service firm is to a. hire professional staff to perform the budgeting work b. coordinate professional staff needs with anticipated services, c. classify all personnel as either variable or fixed. d. budget expenditures before anticipated receipts 1 12. Pulham Company is preparing its direct labor budget for 2021 from the following production budget based on a calendar year: Quarter Units 60,000 2 30,000 3 45,000 75,000 Each unit requires 2 hours of direct labor. The direct labor wage rate is $10 per hour for the first 3 quarters of 2021. The union contract provides for a 10% increase in the wage rate effective October 1st. What is the budgeted direct labor cost for the year? 4 a $4,200,000 b. $4,300,000 c. $4,100,000 d. $4,350,000