Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $34,000 and $50,000, respectively. It also expects credit sales of $60,000 and $70,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale, 35% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the company's cash budget for the first month? Multiple Choice O $70,000 O $36,000 O $86,000 O $50,000Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects cash sales of $34,000 and $37,500, respectively. It also expects credit sales of $54,000 and $64,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale, 35% in the following month, and 5% is deemed uncollectible. What amount of cash collections would appear in the company's cash budget for the second month? Multiple Choice O $92,100 O $94,800 O $86,400Assume a manufacturing company provides the following information from its master budget for the month of May: Unit sales 7, 100 Selling price per unit $ 50 Direct materials cost per unit $ 18 Direct labor cost per unit $ 16 Predetermined overheard rate (based on direct labor dollars) 75% If the company maintains no beginning or ending inventories, what is the budgeted gross margin for May? Multiple Choice O $21,300 O $28,400Assume a merchandising company's estimated sales for January' February. and March are $103000, $123,000. and $113,000. respectively. Its cost ofgoods sold is always 45% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. What are the required merchandise purchases for January? Multiple Choice 0 $54,850 $48,150 0 0 $44,550 0 $55,350 Assume that June's production budget showed required production of 435,000 units. desired ending finished goods inventory of 26,000 units, and beginning finished goods inventory 11,000 units. What were June's budgeted unit series? Multiple Choice 0 450,000 units 420,000 units 0 48,500 units 465,500 units Assume a merchandising company provides the following information from its master budget for the month of May: Sales $ 129, 000 Cash paid for merchandise purchases $ 83, 000 Selling and administrative expenses $ 23, 000 Accounts payable, May ist $ 17, 100 Accounts payable, May 31st $ 24, 000 If the company maintains no beginning or ending merchandise inventory and makes all of its inventory purchases on account, what is the budgeted net operating income for May? Multiple Choice O $40,100 O $24,000Assume the following budgeted information for a merchandising company: . Budgeted sales (all on credit) for November, December, and January are $243,000, $213'000' and $204,000, respectively . Cash collections related to credit sales are expected to be 75% in the month ofsale. 25% in the month following the sale. - The cost of goods sold is 70% ofsales. - Each months ending inventory equals 15% of next month's cost of goods sold . 30% of each month's merchandise purchases are paid in the current month and the remainder is paid in the following month. . Monthly selling and administrative expenses that are paid in cash in the month incurred total $22,500. - Monthly depreciation expense is $6.500. The budgeted net operating income for December would be: Multiple Choice