Question 1 12.5 points Save Answer Volt Corporation has a cash balance of $21,000 on May 1. The company must maintain a minimum cash balance of $17,000. During May, expected cash receipts are $103,000. Cash disbursements during the month are expected to total $117,000. Ignoring interest payments, during May the company will need to borrow: OA. $10,000 OB. $7,000 $4,000 $14,000 OD Question 2 12.5 points Save Answer Cupcakes Incorporated plans to sell 18,000 units of product C during April and 26,000 units during May. Sales of product C during March were 11,500 units. Past experience has shown that end-of month inventory should be equal to 20% of the next month's sales. On March 31, this requirement was met. Based on these data, how many units of Product C must be produced during the month of April? 19,600 23,200 18,000 16,400 A Moving to another question will save this response. >> Question 3 12.5 points Save Answer Gamma Corporation is estimating the following sales on account for the first four months of next year: Month Credit Sales January $280,000 February $300,000 March $330,000 April $370,000 Sales are normally collected 80% in the month of sale and 20% in the month following the sale. All sales are on account. Based on this information, how much cash should Gamma Corporation expect to collect during the month of April? $370,000 $324,000 $362,000 $296,000 Question 7 12.5 points Save Answer Goblet Co. is working on its cash budget for September. The budgeted beginning cash balance is $50,000. Budgeted cash receipts total $189,000 and budgeted cash disbursements total $174,000. The desired ending balance is $56,000. The excess or (deficiency) of cash available over disbursements for September will be: $35,000 $121,000 $15,000 $65,000 A Moving to another question will save this response. Question 7 of 35 Question 9 12.5 points Save Answer Single Corporation manufactures one product and has provided the following information to help prepare the master budget. Description Budgeted unit sales, April Variable selling and administrative expenses Fixed selling and administrative expenses Amount 12,000 units $4 per unit sold $60,000 per month The estimated selling and administrative expense for April is closest to: $60,000 OA. OB. $48,000 $108,000 $72,000 OD