Fortune Company's direct materials budget shows the following cost of materials to be purchased for the coming three months: Material purchases January $ 12,820 February $ 14,930 March $ 11,750 Payments for purchases are expected to be made 50% in the month of purchase and 50% in the month following purchase. The December Accounts Payable balance is $7,300. The budgeted cash payments for materials in January are: Multiple Choice O $7,300 O $20,120 $13,710 $13,875 $13,875 O O $10,060 A merchandiser, provides the following information for its December budgeting process: The November 30 inventory was 1,940 units. Budgeted sales for December are 4,850 units. Desired December 31 inventory is 3,395 units. Budgeted purchases are: Multiple Choice 4,850 units. O O 6,790 units. O 8,245 units. 6,305 units. O 3,395 units. Masterson Company's budgeted production calls for 74,000 units in April and 70,000 units in May of a key raw material that costs $2.00 per unit. Each month's ending raw materials inventory should equal 25% of the following month's budgeted materials. The April 1 inventory for this material is 18,500 units. What is the budgeted materials purchases for April? Multiple Choice O $183,000 $111,000 O U $152,000. O $148,000. U $146,000. A sporting goods manufacturer budgets production of 45,000 pairs of ski boots in the first quarter and 36,000 pairs in the second quarter of the upcoming year. Each pair of boots requires 2 kilograms (kg) of a key raw material. The company aims to end each quarter with ending raw materials inventory equal to 20% of the following quarter's material needs. Beginning inventory for this material is 18,000 kg and the cost per kg is $10. What is the budgeted materials needed in kg. in the first quarter? Multiple Choice O 86,400 kg. O 122,400 kg 90.000 kg O O 108,000 kg. O 104,400 kg Schrank Company is trying to decide how many units of merchandise to order each month. Company policy is to have 30% of the next month's sales in inventory at the end of each month. Projected sales for August, September, and October are 49,000 units, 39,000 units, and 59,000 units, respectively. How many units must be purchased in September? Multiple Choice 39,000 O O 56,700 O 45,000 45,000 O O 24,300 24,300 O O 42.000 Coomb's Fashions forecasts sales of $127,000 for the quarter ended December 31. Its gross profit rate is 30% of sales, and its September 30 inventory is $33,500. If the December 31 inventory is targeted at $42,500, budgeted purchases for this quarter should be: Multiple Choice $79,900 O O $97.900 $136,000 O $80,400. O $38,100. 38.100 Memphis Company anticipates total sales for April, May, and June of $870,000, $970,000, and $1,020,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are collected in the second month. Compute the amount of accounts receivable reported on the company's budgeted balance sheet for June 30. Multiple Choice O $955,200. O $883,200. $654,400. O O $530,400. U $569,200. Memphis Company anticipates total sales for April, May, and June of $900,000, $1,000,000, and $1,050,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are not collected. Compute the amount of cash received from total sales during the month of May. Multiple Choice O $912,000. $984,000 O $774,000. O $676,000. U $712,000 The sales budget for Modesto Corp. shows that 21,800 units of Product A and 23,800 units of Product B are going to be sold for prices of $11.80 and $13.80, respectively. The desired ending inventory of Product A is 30% higher than its beginning inventory of 3,800 units. The beginning inventory of Product B is 4,300 units. The desired ending inventory of Product B is 4,800 units. Budgeted purchases of Product B for the year would be: Multiple Choice O 22.300 units. 24.300 units O 31,900 units. O 28,100 units. O 14,700 units Bioclean Co., a merchandiser, sells a biodegradable cleaning product and has predicted the following unit sales for the first four months of the current year: Jan Feb. March April 2,050 2,250 2,450 1,950 Sales in units Ending inventory for each month should be 10% of the next month's sales, and the December 31 inventory is consistent with that policy. How many units should be purchased in February? Multiple Choice O 2,290. 2,250 O O O 2,495. 2.270. O 2,230 O Ratchet Manufacturing anticipates total sales for August, September, and October of $180,000, $190,000, and $200,500 respectively. Cash sales are normally 25% of total sales and the remaining sales are on credit. All credit sales are collected in the first month after the sale. Compute the amount of accounts receivable to be reported on the company's budgeted balance sheet for August. Multiple Choice O $45.000. $142,500 O $47,500 O O $180,000 U $135,000