Based on a predicted level of production and sales of 30,000 units, a company anticipates total contribution margin of $105,000, fixed costs of $30,000, and operating income of $75,000. Based on this information, the budgeted operating income for 27,000 units would be: Multiple Choice $75,000. $135,000. $64,500. $56,667 $105 000 The following information describes a company's usage of direct labor in a recent period. The direct labor rate variance is: Actual hours used Actual rate per hour Standard rate per hour Standard hours for units produced 47,000 $ 12 $ 11 49,000 The Ballentine Company expects sales for June, July, and August of $53,000, $59,000, and $49,000, respectively. Experience suggests that 40% of sales are for cash and 60% are on credit. The company collects 55% of its credit sales in the month following sale, 40% in the second month following sale, and 5% are not collected. What are the company's expected cash receipts for August from its current and past sales