Nos. 21-25 are based on the following data. Bags Inc. manufactures bags with 3 zipper-type pockets. The company outsource the zippers at P10 per unit. Each bag requires 6 direct labor hours to produce at a rate of P15 per hout. Budgeted sales of bags for the first quarter of the year and the first month of the following quarter is as follows: 800 units January February 1,000 units March 1,200 units April 1,400 units May 1,600 units CS CamScanner 33 Page 6 of Inventory data are as follows: January 1 End of Each month Leather Bag Zipper 480 1,104 60% of the following month's budgeted sales 40% of the following month's budgeted production Requirement 75 per month Variable overhead is P40 per unit produced and annual fixed overhead is P900,000 30% of the total sales are cash sales and the balance are credit sales. The credit sales are collected 50% within the month of sales, 30% the following month and 20% two months after. 60% of the zipper purchased are paid within the month of purchase and the balance is paid the following month. The bags are sold for P150 per unit. 21, What is the budgeted purchases for January? A. P30,000 B. P36,000 B.P64,080 22. What is the total budget overhead cost for February? A B.P209,400 B. P127,800 23. What is the total cash collection for sales in February? A.P45,000 B.P52,200 D.P130,000 E. ANSWER NOT GIVEN C.P111,800 DP119,800 E. ANSWER NOT GIVEN C.P122,700 CD. P97,500 E. ANSWER NOT GIVEN C.P52,032 D.P38,448 E. ANSWER NOT GIVEN 24. What is the accounts payable for March? A. P14,400 B.P25,632 17,280