Morrison Inc. had original sales and cost data for the month of April as follows: Sales: Selling price per unit: Variable cost per unit: Total fixed costs: 13,600 units $17.00 $11.50 $28.000 Calculate the contribution margin ratio for Morrison Inc. Round answers to two decimal places. 03.09 67.65% O 1.48 O 32.35% 4.1 pts Purple Company is preparing a cash budget and estimates the following information for the coming period: Cash collections: Total disbursements: Beginning cash balance: Required minimum cash balance: $33,200 $57,300 $9,400 $20,000 What amount will the company have to borrow for the period, if any? $20,000 O $0 O $14,700 O $34,700 In the Management Insight article "Starting from Scratch" what is zero-based budgeting? The budgeting process uses last year's budget to determine the current year's budget. The budgeting process starts with revenues and expenses that are equal; or zero net income. To be conservative the budgeting process starts by using the revenues and expenses in a year that had zero net income. O The budgeting process starts from scratch Question 23 4.1 pts All of the following are true about the margin of safety except: It can be calculated as a ratio and in dollars. O A high margin of safety gives a company more "cushion" if sales were to decrease. Indicates the possible decrease in sales that may occur before a loss results. The higher the margin of safety, the greater the risk to the company