(TCO 7) The culmination of preparing operating budgets is the: (Points : 4) pro forma balance sheet. production budget. cash budget. pro forma income statement. Question 2.2. (TCO 7) The starting point in preparing a master budget is the preparation of the: (Points : 4) production budget. sales budget. purchasing budget. personnel budget. Question 3.3. (TCO 7) The production budget shows planned sales of 32,000. Beginning inventory is 5,600. Units to be produced are 33,600. What is the desired ending inventory? (Points : 4) 4,000 5,600 6,400 7,200 Question 4.4. (TCO 7) If there were 20,000 pounds of raw materials on hand on January 1, 45,000 pounds are desired for inventory at January 31, and 295,000 pounds are required for January production, how many pounds of raw materials should be purchased in January? (Points : 4) 295,000 pounds 315,000 pounds 320,000 pounds 360,000 pounds Question 5.5. (TCO 7) ABC Company expects the following sales and collection pattern for the last four months of the year: Month Cash Sales Credit Sales Total Sales September $25,000 $65,000 $90,000 October $28,000 $72,000 $100,000 November $26,000 $68,000 $94,000 December $30,000 $71,000 $101,000 5% of credit sales are collected in the same month 65% of sales are collected in the following month 25% of sales are collected in the second following month What are the projected cash collections for the month of December? (Points : 4) $65,750 $92,200 $95,750 $99,000