Hep Save & E Flatiron Corp has the following budgeted sales in each quarter of the year 2020: Expected Sales $ 300,000 $ 320,000 $ 340,000 $360,000 Cash collection information are as follows: 1. Of all sales, 70% are on credit 2. For the credit sales made in the year 2020; 60% of credit sales are the following quarter, and 10% are collected in the second quarter after sale 3. Accounts Receivable is estimated to be $60,000 on December 31,2019. The company expects to collect all outstanding receivable in the first quarter of 2020 What is the total cash collection for the first quarter of 2020? Multiple Choice o $276,000 o $216,000 o S126,000 o S186,000 o All of the other answers are incorrect At the beginning of February, the following was determined for a particular product: Standard Quantity of material per unit Standard Price of material Budgeted Units to be produced 3 lbs. $2.00 per lb. 5,000 units The following data pertain to operations concerning the product for February Beginning Materials Inventory Ending Materials Inventory Actual Units Produced Materials Purchase Price Variance Materials Quantity Variance 1.200 lbs. 900 lbs. 5,100 units $1.520 Unfavorable $400 Unfavorable What was the actual cost of materials purchased in February? HP SAVE & Exit What was the actual cost of materials purchased in February? Multiple Choice 32,520 To o o o All of the other answers are incorrect ) 528,880 S31 320 . 15.20 Next