Match the following statements to the appropriate terms. A selection of strategies to achieve long-term goals. An estimate of expected sales for the budget period Budgets that indicate the cash resources needed for expected operations and planned capital expenditures. The projection of potential sales for the industry and the company's expected share of such sales. Management's plans expressed in financial terms for a specified future time period. A projection of anticipated cash flows A group responsible for coordinating the preparation of the budget. A projection of production requirements to meet expected sales. A set of interrelated budgets that constitute a plan of action for a specified time period An estimate of the quantity and cost of direct materials to be purchased Match the following statements to the appropriate terms A selection of strategies to achieve long-term goals. An estimate of expected sales for the budget period Budgets that indicate the cash resources needed for expected operations and planned capital expenditures The projection of potential sales for the industry and the company's expected share of such sales. Management's plans expressed in financial terms for a specified future time period. A projection of anticipated cash flows. A group responsible for coordinating the preparation of the budget. A projection of production requirements to meet expected sales A set of interrelated budgets that constitute a plan of action for a specified time period. An estimate of the quantity and cost of direct materials to be purchased. Direct materials budget Master budget Sales forecast Production budget Long-range planning Cash budget Sales budget Budget Financial budgets Budget committee Bonita Industries plans to sell 3000 purple lawn chairs during May, 5700 in June, and 3000 during July. The company keeps 15% of the next month's sales as ending inventory. How many units should Bonita produce during June? 5295 Not enough information to determine 6105 6150 The following information was taken from Crane Company's cash budget for the month of July: Beginning cash balance Cash receipts Cash disbursements $490000 314000 534000 If the company has a policy of maintaining a minimum end of the month cash balance of $460000, the amount the company would have to borrow is $30000. $270000 $146000 $190000 A company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale; the remainder is never collected. Budgeted credit sales were: January February March $260000 126000 460000 The cash inflow in the month of March is expected to be $186800. $313800. $276000. $326800