a. C. 21. O'Malley Company had sales of $225,000 and a profit of $27,000 during the period. Assume for the period were $92,250. The contribution margin ratio for the period was 53% b. 88% 12% d. 47% 22. The formula for total manufacturing costs is: Raw materials used + Direct labor costs + Actual manufacturing overhead b. Raw materials purchased + Direct labor costs + Applied manufacturing overhead Raw materials used + Direct labor costs + Applied manufacturing overhead d. Raw materials purchased + Direct labor costs + Actual manufacturing overhead a. C. Cheroke Company had an accounts receivable balance of $60,000 at December 31, 2008. Projected sales for the first three months of 2009 are: January February March $120,000 130,000 100,000 All sales are credit sales. Cheroke Company usually collects 40% of its sales during the month of sale, 50% in the month following the sale, and 10% in the second month following the sale. a. C. 23. Given this information, cash collections during February should be: $132,400 b. $112,400 The answer cannot be determined d. $122,400 24. Skyview Corporation will make $50,000 if it sells 4,000 bathtubs for $200 per unit. If the contribution margin is 30%, what will the fixed costs be? $290,000 b. $240,000 $510,000 d. $190,000 a. c