Refer to the information above. For the year, budgeted purchases of direct materials amounted to a. $360,000 b. $376,000. c. $384,000. d. $424,000 14. Refer to the information above. For the year, budgeted cash payments to suppliers amounted to a. $360,000 b. $376,000. c. $384,000. d. $424,000. 15. Y Company produces chairs. The production budget for the next four months is: July 6,000 units, August 7,000, September 7,500. Each chair requires 2.2 hours of skilled labor (paid $15 per hour). How much will be paid to skilled labor during the Quarter 3 (July-September)? a. $292,500 b. $676,500 c. $677,500 d. $742,500 16. Company has forecast production for the next three months as follows: July 5,000 units, August 6,600 units, September 7,500 units. Monthly manufacturing overhead is budgeted to be $17,000 plus $5 per unit produced. What is budgeted manufacturing overhead for July? a. $24,500 b. $41,500 c. $42,000 d. $47,000 12. S Company has forecast sales to be $110,000 in February, \$145,000 in March, $170,000 in April, and $180,000 in May. All sales are on made on credit and sales are collected 60% in the month of sale, and 40% the month following. What are budgeted cash receipts in March? a. $131,000 b. $135,000 c. $94,500 d. $91,70