Panther Hardware's forecasted sales for April; May; June; and July are $250,000;$300,000;$170,000; and $230,000; respectively. Sales are 65% cash and 35% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 80% of sales and ending inventory is maintained at $80,000 plus 20% of the following month's cost of goods sold. All inventory purchases are paid 24% in the month of purchase and 76% in the following month. What is the balance of accounts payable on the June 30 budgeted balance sheet at Panther Hardware? $129,200$110,656$82,688$145,600 We Got Toys Mfg. produces two types of toys: trains and dolls. The company uses stainless steel to manufacture the trains and plastic to manufacture the dolls. Information regarding the usage of steel and plastic for the past year follows: What is the direct material quantity variance for plastic in the dolls? $150 favorable 53,600 unfavorable $3,600 favorabie $150 unfavorable CBC Corporation produces clocks. According to company standards, it should take 2 hours of direct labor to produce a clock. The company's standard labor cost is $14 per hour. During June, the company produced 6,200 stopwatches and used 13,100 hours of direct labor at a total cost of $262,000. What is CBC's direct labor rate variance for June? 578,600 favorable $700 favorable $78,600 untavorable $700 unfavorable Panther Hardware's forecasted sales for April; May; June; and July are $250,000;$300,000;$170,000; and $230,000; respectively. Sales are 65% cash and 35% credit with all accounts receivables collected in the month following the sale. Cost of goods sold is 80% of sales and ending inventory is maintained at $80,000 plus 20% of the following month's cost of goods sold. All inventory purchases are paid 24% in the month of purchase and 76% in the following month. What is the balance of accounts payable on the June 30 budgeted balance sheet at Panther Hardware? $129,200$110,656$82,688$145,600 We Got Toys Mfg. produces two types of toys: trains and dolls. The company uses stainless steel to manufacture the trains and plastic to manufacture the dolls. Information regarding the usage of steel and plastic for the past year follows: What is the direct material quantity variance for plastic in the dolls? $150 favorable 53,600 unfavorable $3,600 favorabie $150 unfavorable CBC Corporation produces clocks. According to company standards, it should take 2 hours of direct labor to produce a clock. The company's standard labor cost is $14 per hour. During June, the company produced 6,200 stopwatches and used 13,100 hours of direct labor at a total cost of $262,000. What is CBC's direct labor rate variance for June? 578,600 favorable $700 favorable $78,600 untavorable $700 unfavorable