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Questions 7 to 10 are based on the following information: The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units. The Cardinal Company wishes to maintain a desired ending finished goods inventory of 20% of the following months' sales. 9. What would be the budgeted production for March? a. 256,000 b. 206,000 c. 214,000 d. 298,000 Questions 18 to 19 are based on the following information: A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments. January February March Cash receipts $1,061,200 $1,182,400 $1,091,700 984,500 1,210,000 1,075,000 Cash payments The company's cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000. 18. What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for January? a. $26,700 excess b. $136,700 deficiency c. $356,700 excess d. $60,000 excess ANS: A 19. What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for February? a. $109,100 deficiency b. $10,900 excess c. $900 deficiency d. $109,100 excess ANS: C