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Hello, can you please assist with the following four questions? Thank you for the help! Question 1 The Coates Co. expects to sale 8,000 units

Hello, can you please assist with the following four questions?

Thank you for the help!

image text in transcribed Question 1 The Coates Co. expects to sale 8,000 units in June, 12,000 in July, 10,000 in August, and 9,000 in September. All sales are for $35 per unit. 30% of the sales are cash sales. Of the remaining 70% (the credit sales), Coates collects 37% of them in the month of the sale, 60% in the month after the sale, and fails to collect 3% of credit sales. What is the expected cash inflow during the month of July? a. $407,400 b. $352,380 c. $323,085 d. $305,550 Question 2 The Aja Co. expects to produce 2,000 baskets in 2016. Each basket requires 2 pounds of plastic. Aja has 225 pounds of plastic on hand at the end of 2015, and it wants to have 190 pounds on hand at the end of 2016. How many pounds of plastic does Aja need to purchase in 2016? a. 190 b. 3,585 c. 3,965 d. 4,000 Question 3 The following information relates to the next two questions: Mitchell Co. uses standard costing and calculates materials and labor variances like you saw in the text and videos. Mitchell expected to produce 5,100 units in 2015 and set the following standards for that year: For direct material (DM) the standard price is $20 per pound of material and the standard quantity 5 pounds of materials are needed for each unit produced. For direct labor (DL) the standard price is $18 per hour and the standard quantity is 2 labor hours needed for each unit produced. In 2015, Mitchell actually produced 5,000 units of product. Mitchell spent $497,250 on 25,500 pounds of DM (all of these materials were requisitioned by the production department in 2015). Mitchell spent $194,750 on 9,500 DL hours. What is the materials price variance, and is it favorable or unfavorable? MC answers to Question #3 continued on next page..... a. $2,750 favorable b. $12,750 favorable c. $38,250 favorable d. $12,750 unfavorable e. $38,250 unfavorable f. $47,250 unfavorable Question 4 Use the information for Mitchell in the prior question. What is the direct labor quantity (or efficiency) variance? Is it favorable or unfavorable? a. $5,250 favorable b. $9,000 favorable c. $10,000 favorable d. $9,000 unfavorable e. $10,000 unfavorable f. $14,750 unfavorable

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