Ortiz Company estimates the following sales for 2021:

Q1 - 200 units

Q2 - 260 units

Q3 - 330 units

Q4 - 300 units

All sales are on account, and each unit sells for $35. Ortiz Company collects 90% of sales in the quarter of the sale and 10% in the following quarter. At January 1, 2021, the balance in Accounts Receivable is $950.

What are total sales for the year?

• A. $37,100
• B. $38,150
• C. $38,050
• D. $39,100

In 2021, Hill Corp. is budgeted to sell 23,000 units. Variable selling and administrative expenses total $2.10 per unit and fixed selling and administrative expenses are budgeted to be $11,000 per year (including $1,500 of depreciation). What is the total dollar amount that will be included on the Income Statement for selling and administrative expenses?

• A. $57,800
• B. $59,300
• C. $60,800
• D. $6,000

Van Corp. has the following required production for 2021:

Q1 - 430 units

Q2 - 470 units

Q3 - 380 units

Q4 - 400 units

Each unit requires 2 yards of material to complete. Van Corp. wants to have 10% of next quarter's materials needs in raw materials the quarter before they are needed. At the end of the year, Van Corp. would like to have 80 yards of material in inventory. On January 1, 2021, there are 70 yards of material available. What amount of raw materials need to be purchased in Q2?

• A. 407 yards
• B. 461 yards
• C. 884 yards
• D. 922 yards