Question 1 (1 point) A firm has sixty-thousand lbs. of DM in inventory on February 1. The firm requires twice that amount to be in ending inventory at the end of February. They need 410,000 lbs. for February's production. How many pounds of raw materials should be purchased for February? 350,000 pounds 530,000 pounds 290,000 pounds 470,000 pounds A company collects sixty-percent of its credit sales in the month of sale, thirty- percent in the following month, and five-percent in the second month after the sale. The final five-percent is never received by the company. Budgeted credit sales are as follows: July August $360,000 216,000 September 540,000 What is the cash inflow for the month of October? $406,800. $307,800. $324,000. $388,800. Which budget is not used by a merchandising company? Direct labor budget Cash budget Sales budget Budgeted income statement