Nickel City Arcade is forecasting its sales for its peak summer season. One important part of the total sales amount is the daily admissions fees. Nickel City has a maximum capacity of 600 people per day. Each person pays an admission fee of $5. Here are the expected usage rates during the months of June, July, and August. What is the total forecasted amount of admissions fees for the months June through August? $132,700$158,900$161,100$147,300 Based on these data, what is Deedle's budgeted operating profit for next month? $350$150$50$250 On September 30 of Year 1, Julian Company had inventory of 2,000 units. Starting in October, Julian intends to have an inventory policy of maintaining ending inventory at the end of every month equal to the next month's sales. For example, ending inventory at the end of October should be equal to forecasted sales in November. Forecasted sales for the months October, Year 1 through January, Year 2 are as follows. What is the amount of budgeted inventory PURCHASES for OCTOBER? 4,000units10,500units8,500units6,000units On September 30 of Year 1, Jay Company had inventory of 2,000 units. Starting in October, Jay intends to have an inventory policy of maintaining ending inventory at the end of every month equal to th next month's sales. For example, ending inventory at the end of October should be equal to forecasted sales in November. Forecasted sales for the months October, Year 1 through January, Year 2 are as follows. What is the amount of budgeted inventory PURCHASES for DECEMBER? 3,000units1,000units10,500units4,000units On September 30 of Year 1, Lily Company had finished goods inventory of 2,000 units. Starting in October, Lily intends to have an inventory policy of maintaining ending inventory at the end of every month equal to the next TWO months' sales. For example, ending inventory at the end of October should be equal to forecasted sales in November plus forecasted sales in December. Forecasted sales for the months October, Year 1 through January, Year 2 are as follows. What is the amount of budgeted PRODUCTION for November? (Note that this question is asking about November, not October.) 3,300 units 4,700 units 2,000 units 1,000 units plus forecasted raw materials needs for December production. Five pounds of raw materials are needed in the production of one finished unit. Forecasted PRODUCTION for the months October, Year 1 through December, Year 1 is as follows. What is the amount of budgeted RAW MATERIALS PURCHASES for October? 40,000pounds67,500pounds62,500pounds57,500pounds nat are the factors to be considered in preparing a budget of the number of units to be produced in a given period? Projected sales volume, desired amount of ending inventory, and amount of inventory already on hand in the beginning inventory Forecasted direct materials cost, forecasted direct labor cost, and projected sales volume Projected sales volume, forecasted variable manufacturing overhead, and forecasted fixed manufacturing overhead Desired amount of ending inventory, amount of inventory already on hand in the beginning inventory, forecasted direct materials cost, and forecasted direct labor cost It is January 1 of Year 2. Sales for Harry Company for January, February, and March are forecasted to be as follows: January, $200,000; February $400,000; March, $500,000. 80% of sales are collected in the month FOLLOWING the sale; the remaining 20% of sales are collected in the month of sale. TOTAL sales for November and December of Year 1 were $200,000 and $400,000, respectively. What is the forecasted amount of total CASH COLLECTIONS in January? $200,000$360,000$320,000$280,000 500units=$20,750;700units=$24,900500units=$12,450;700units=$14,525500units=$12,450;700units=$16,600500units=$10,375;700units=$14,525 amounted to $358,000. Spent $18,700 MORE than should have been spent Spent $12,000 MORE than should have been spent Spent $18,700 LESS than should have been spent Spent $12,000 LESS than should have been spent Why is a STATIC budget less useful than a FLEXIBLE budget? A static budget compares the actual cost to the budgeted cost (based on the actual level of production). A static budget compares the actual cost this year to the actual cost last year. A static budget compares the budgeted cost this year to the budgeted cost last year. A static budget compares the actual cost to the budgeted cost (based on the budgeted level of production). 15 In preparing a flexible budget, which costs need to be carefully separated from one another? Overhead costs from labor costs Direct costs from indirect costs Labor costs from materials costs Fixed costs from variable costs