QUESTION 17 The Model Company begins operations in April. It has budgeted April sales of $30,000, May sales of $34,000, June sales of $50,000, July sales of $60,000, and August sales of $38,000. Note that 10% of each month's sales is expected to represent cash sales: 75% of the balance is expected to be collected in the month following the sale, 17% the second month, 6% the third month, and the balance is expected to be uncollectible. What is the amount of cash to be collected in the month of July? QUESTION 18 The following data pertains to the month of October for ElmCo. when production was budgeted to be 5,000 units of P90, P90 has standard costs per unit of: 3 lbs. of Direct Materials at a cost of $7.00 per lb.; 0.20 hours of Direct Labor at $18.00 per hour and Variable Overhead assigned on the basis of 0.05 machine hours at a rate of $50 per machine hour. Actual production of P90 for October was 4,600 units. In October the production of P90 totaled 4,600 units, using 324 machine hours costing a total of $17,066. Determine the variable overhead efficiency variance. (Negative numbers indicate a favorable variance.) Click Save and Submit to save and submit. Click Save All Answers to save all answers. rch