Question 27 3 pts Groundworks Company budgeted the following credit sales during the current year: September, $90,000; October, $123,000; November, $105,000; December, $111,000. Experience has shown that cash from credit sales is received as follows: 10% in the month of sale, 50% in the first month after sale, 35% in the second month after sale, and 5% is uncollectible. How much cash should Groundworks Company expect to collect in November from its current and past credit sales? Question 28 5 pts A company's flexible budget for 30,000 units of production showed sales of $90,000, variable costs of $36,000, and fixed costs of $23,000. Prepare a flexible budget for 25,000 units assuming it is within the same relevant range of production. HTML Editora B I VA - A - IX E 3 1 x > - D N Vx G V T 125 Question 29 6 pts Castaway Company reports the following first year production cost information: Units produced 53,000 units Units sold 51,000 units Sales price $150 per unit Direct labor $8 per unit Direct materials $4 per unit Variable overhead $41 per unit Fixed overhead $3,339,000 in total Operating expenses $1,000,000 in total 1. Determine the net income using variable costing. 2. Determine the net income using absorption costing. Question 30 5 pts Wrap-It Company, a manufacturer of wrapping paper, began operations on June 1 of the current year. During this time, the company produced 370,000 units and sold 310,000 units at a sales price of $50 per unit. Cost information for this period is shown in the following table: Production costs Direct materials $2.00 per unit Direct labor $.80 per unit Variable overhead $814,000 in total Fixed overhead $481,000 in total Non production costs Variable selling and administrative $78,000 in total Fixed selling and administrative $210,000 in total Variable overhead $814,000 in total Fixed overhead $481,000 in total Non production costs Variable selling and administrative $78,000 in total Fixed selling and administrative $210,000 in total 1. Prepare Wrap-It's December 31st income statement for the current year under absorption costing. 2. Prepare Wrap-It's December 31st income statement for the current year under variable costing. A - B IV - D HTML Editore A - E Ix x > VX VoLT 12