Marlow Company produces hand tools. A production budget for the next four months is as follows: March 10,500 units, April 14,120, May 16,600, and June 21,000. Marlow Company's ending finished goods inventory policy is 15% of the following month's sales. Marlow plans to sell 16,500 units in May. What is budgeted ending inventory for March? Multiple Choice 1,575 2,055 2.118 2.490 Grover has forecast sales to be $128,000 in February, $137,000 in March, $151,000 in April, and $148,000 in May. The average cost of goods sold is 70% of sales. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in March? Multiple Choice $137.400 $133,400 $96,900 $94,100