A. Use the information below for Nuthatch Corporation to answer the question that follow. Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and November-are $244,000, $319,000, and $401,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in September from accounts receivable are estimated to be? Choose the correct answer below. $170,800 $136,640 $244,000 $292,800 B. Use the information below for Finch Company to answer the question that follow. Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manufacturing costs (1) $159,100 $197,000 $214,200 Insurance expense (2) 900 900 900 Depreciation expense 2,070 2,070 2,070 Property tax expense (3) 410 410 410 (1) of the manufacturing costs, three-fourths are paid for in the month they are incurred and one-fourth is paid for the following month. 5- (2) Insurance expense is $900 a month; however, the insurance is paid four times yearly, in the first month of the quarter (i.e., January, April, July, and October). (3) Property tax is paid once a year in November The cash payments expected for Finch Company in the month of April are? Choose the correct answer. $119,325 $122,025 $140,563 $159,100 C. Use the information below for Dove Corporation to answer the question that follow. Dove Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and November-are $242,000, $320,000, and $410,000, respectively. The company expects to sell 25% of its merchandise for cash. Of sales on account, 70% are expected to be collected in the month of the sale and 30% in the month following the sale. The cash collections expected in October are? Choose the correct aswer below. $302,450 $276,000 $291,600 $227,600 D. Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,640 pounds of material, $5.40; and standard costs for 4,480 pounds of material at $6.00 per pound. What is the direct materials price variance? Choose the correct asnwer below. $960 favorable $960 unfavorable $2,784 unfavorable $2,784 favorable E. Myers Corporation has the following data related to direct materials costs for November: actual costs for 4,690 pounds of material, $5.00 and standard costs for 4,440 pounds of material at $6.30 per pound. What is the direct materials quantity variance? Choose the correct answer below. $6,097 unfavorable $1,575 unfavorable $6,097 favorable $1,575 favorable F. The standard costs and actual costs for direct materials for the manufacture of 2,900 actual units of product are as follows: Standard Costs Direct materials (per completed unit) 1,040 kilograms @$8.75 Actual Costs Direct materials 2,900 kilograms @ $8.15 Round your final answer to the nearest dollar. The direct materials price variance is? Choose the correct answer below. $624 unfavorable $624 favorable $1,740 unfavorable $1,740 favorable
