For January, sales revenue is $700,000, sales commissions are 5% of sales; the sales manager's salary is $96,000; advertising expenses are $90,000; shipping expenses total 2% of sales; and miscellaneous selling expenses are $2, 100 plus 1/2 of 1% of sales. Total selling expenses for the month of January are: a. $157, 100 b. $240, 600 c. $183, 750 d. $182, 100 The following information was reported in a budgeted schedule of cash receipts and disbursements: Beginning cash balance $20,000 Cash disbursement $43,000 Cash receipts $35,000 Minimum cash balance desired $21,000 Based on the above information, how much cash will the company have to borrow in order to meet its required needs? a. $0 b. $7,000 c. $13, 550 d. $9,000 The budget that summarizes future plans for the acquisition of fixed assets is a. direct materials purchases budget b. production budget c. sales budget d. capital expenditures budget The following data relate to direct labor costs for the current period: Standard costs 36,000 hours at $22.50 Actual costs 35,000 hours at $23.00 What is the direct labor efficiency/time variance? a. $23,000 favorable b. $23,000 unfavorable c. $22, 500 favorable d. $22, 500 unfavorable The following data relate to direct labor costs for the current period: Standard costs 6,000 hours at $ 12.00 Actual costs 7, 500 hours at $ 11.60 What is the direct labor rate variance