Luchini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations The budgeted selling price per unit is $111. Budgeted unit sales for April May June and July are 7100, 10,100, 13.300 and 14,000 units, respectively. All sales are on cred b. Regarding credit sales, 40% are collected in the month of the sale and 60% in the following month c. The ending finished goods inventory equals 10% of the following month's sales. d. The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $5.00 per pound. e. Regarding raw materials purchases, 40% are paid for in the month of purchase and 50% in the following month f. The direct labor wage rate is $18.00 per hour. Each unit of finished goods requires 2.9 direct labor hours. g. Variable manufacturing overhead is $700 per direct labor-hour Fixed manufacturing overhead is zero The budgeted accounts receivable balance at the end of May is closest to Oo oo Petrin Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations a. The budgeted seling price per unit is $110. Budgeted unit sales for January, February March, and April are 7500, 10,600, 12,000, and 11700 units, respectively. All sales are on credit b. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month C. The ending finished goods inventory equals 30% of the following month's sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $4.00 per pound e. Regarding raw materials purchases, 40% are paid for in the month of purchase and 60% in the following month The direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 26 direct labor hours. g. Manufacturing overhead is entirely variable and is $8.00 per direct labor-hour h. The variable selling and administrative expense per unit sold is $170. The fixed selling and administrative expense per month is $70,000 The budgeted sales for February is closest to: Multiple Choice 0 O S466.000 0 $1320,000 0 $1287,000 0 $825.000 Petrin Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $110. Budgeted unit sales for January February March, and April are 7,500,10,600, 12,000, and 11700 units, respectively. All sales are on Credit b. Regarding credit sales 30% are collected in the month of the sale and 20% in the following month c. The ending finished goods inventory equals 30% of the following month's sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $400 per pound. e. Regarding raw materials purchases, 40% are paid for in the month of purchase and 60% in the following month The direct labor wage rate is $23.00 per hour Each unit of finished goods requires 26 direct labor-hours g. Manufacturing overhead is entirely variable and is $8.00 per direct labor-hour h. The variable selling and administrative expense per unit sold is $170. The food selling and administrative expense per month is $70,000. The expected cash collections for February is closest to: Multiple Choice $927300 $577,500 O ooo $825.000 $349.800
