Bonkowski Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations:

Budgeted selling price per unit$ 97Budgeted unit sales (all on credit): January10,000February12,000March13,300April15,200

Raw materials requirement per unit of output4poundsRaw materials cost$ 1.00per poundDirect labor requirement per unit of output2.5direct labor-hoursDirect labor wage rate$ 23.00per direct labor-hourPredetermined overhead rate (all variable)$ 9.00per direct labor-hourVariable selling and administrative expense$ 3.10per unit soldFixed selling and administrative expense$ 70,000per month

Credit sales are collected:

30% in the month of the sale

70% in the following month

Raw materials purchases are paid:

30% in the month of purchase

70% in the following month

The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following months raw materials production needs.

1. The expected cash collections for February is closest to:

Multiple Choice

$970,000

$1,028,200

$349,200

$679,000

2. The budgeted accounts receivable balance at the end of February is closest to:

Multiple Choice

$349,200

$814,800

$776,000

$1,164,000

3. The budgeted required production for February is closest to:

Multiple Choice

12,390 units

19,590 units

15,990 units

12,000 units

4.

The estimated direct labor cost for February is closest to:

Multiple Choice

$284,970

$712,425

$499,000

$30,975