Question 1 The company has available the following information necessary for the preparation of the budget for the third quarter of 2023 (July September) April May June July August September October Dollar Sales Forecast 244455 268901 293346 317792 354460 391128 427796 The company collects 40 of its sales during the month of the sale, 30 the following month, and 30 two months after the month of the sale The sales price of the product is $5 60 per unit REQUIRED Determine the cash collected in the July to September quarter Do not use dollar signs, commas, or decimals Answer Question 2 Cocina en la Nube, Inc , prepared meals for flights for several major airlines One product of the company is grilled salmon in dill sauce with chambray potatoes and spring vegetables The standard cost sheet for this dish reflects the following Standard labor time 0 4 hours per meal Standard labor rate $9 per hour In the last week, the company prepared 2,900 meals of this dish Below is information related to the preparation of these 2900 meals Total labor hours incurred 1044 hours Actual labor rate $11 per hour REQUIRED Determine the TOTAL labor variance (how much higher or lower the actual total cost is compared to the standard total cost) If the variation is favorable the response must be positive (example 100) and if it is unfavorable the response must be negative (example 100) YOU MAY USE TWO DECIMALS IN YOUR ANSWER Answer Question 3 ABC, Inc , manufactures a single product The standard cost sheet for this product reflects the following Direct material 12 per unit Standard material cost $0 73 per ounce of material In the last quarter, the company manufactured 2,166 units of this product Below is information related to the preparation of these 2166 units Total materials used in manufacturing 28591 2 ounces Actual material cost $0 58 per hour REQUIRED Determine the TOTAL materials variance (how much higher or lower the actual total cost is compared to the standard total cost) If the variation is favorable the response must be positive (example 100) and if it is unfavorable the response must be negative (example 100) YOU MAY USE TWO DECIMALS IN YOUR ANSWER Answer

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Question #1: The company has available the following information necessary for the preparation of the budget for the third quarter of 2023 (July-September): April May

Question #1:

The company has available the following information necessary for the preparation of the budget for the third quarter of 2023 (July-September):

	April	May	June	July	August	September	October
Dollar Sales Forecast	244455	268901	293346	317792	354460	391128	427796

The company collects 40% of its sales during the month of the sale, 30% the following month, and 30% two months after the month of the sale. The sales price of the product is $5.60 per unit.

REQUIRED: Determine the cash collected in the July to September quarter. Do not use dollar signs, commas, or decimals.

Answer:

Question #2:

Cocina en la Nube, Inc., prepared meals for flights for several major airlines. One product of the company is grilled salmon in dill sauce with chambray potatoes and spring vegetables.

The standard cost sheet for this dish reflects the following:

Standard labor time	0.4 hours per meal
Standard labor rate	$9 per hour

In the last week, the company prepared 2,900 meals of this dish. Below is information related to the preparation of these 2900 meals:

Total labor hours incurred	1044 hours
Actual labor rate	$11 per hour

REQUIRED: Determine the TOTAL labor variance (how much higher or lower the actual total cost is compared to the standard total cost). If the variation is favorable the response must be positive (example 100) and if it is unfavorable the response must be negative (example -100). YOU MAY USE TWO DECIMALS IN YOUR ANSWER.

Answer:

Question #3:

ABC, Inc., manufactures a single product. The standard cost sheet for this product reflects the following:

Direct material	12 per unit
Standard material cost	$0.73 per ounce of material

In the last quarter, the company manufactured 2,166 units of this product. Below is information related to the preparation of these 2166 units:

Total materials used in manufacturing	28591.2 ounces
Actual material cost	$0.58 per hour

REQUIRED: Determine the TOTAL materials variance (how much higher or lower the actual total cost is compared to the standard total cost). If the variation is favorable the response must be positive (example 100) and if it is unfavorable the response must be negative (example -100). YOU MAY USE TWO DECIMALS IN YOUR ANSWER.

Answer: