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QUESTION 9 Needles Company manufactures product X. Needles estimates that 60,000 units of product X will be sold in the current year. Beginning inventory and
QUESTION 9 Needles Company manufactures product X. Needles estimates that 60,000 units of product X will be sold in the current year. Beginning inventory and ending inventory of direct materials are estimated at 20,000 pounds and 25,000 pound respectively. It requires 3 pounds orect materials to produce one unit of product X. The cost per pound of direct materials is $2.50. What is the budgeted cost of direct materials purchases? ca. $162,500. b. 5462,500. c$437,500. d. $370,000. QUESTION 10 Nutell Corporation began operations on September 1 of the current year. Budgeted sales for September and October are $260,000 and $360,000 respectively. All sales are on account. Of sales on account, 80% are expected to be collected in the month of sale and 20% in the following month. The cash collections in October are: ca. $332,400 b. 5280,000 C. $340,000 d. $288,000. QUESTION 11 J Company is preparing its cash budget. The company's cash balance on January 1 is 510,000. This company desires a minimum cash balance of $25,000 at the end of each month. The following data has been prepared for cash receipts and cash payments: January February Cash receipts $100,000 $140,000 Cash payments 80,000 155,000 What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for February ca. $35,000 deficiency. b. 510,000 excess. CC. $10,000 deficiency. d. $35,000 excess
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