Hastings Co. sells widgets. The company is currently developing a purchases budget for July. Projected sales volumes are 159 for June, 160 for July, and 187 for August. Hastings wants to maintain inventories of 29% of the following month's sales volume (rounded up to a whole number). Hastings needs to spend $21 to buy each widget. Hastings buys on credit and pays half the bill for widgets in the same month and half in the following month.

a.How many units will Hastings budget to purchase in July?

b.How much purchases will be budgeted for in $ for July.

c.How much cash outflow for purchases will Hastings budget for July? (Round to nearest dollar if not a whole number.)

There are three primary benefits of budgeting. List them (only one word needed for each).