The ABC Corporation makes collections on sales according to the following schedule 25% in month of sale 65% in month following sale 5% in second month following sale 5% uncollectible The following sales have been budgeted: Sales $120,000 May $100,000 June $110,000 April Based on the information above, budgeted cash collections for the month of June would be: A) $71,000 B) $115,500 C) $98,500 D) $27,500 7) Thomas Corporation manufactures coffee mugs. Expected mug sales for the next three months are as follows: October 28,000 November 25,000 December 31,000 Budgeted unit sales Thomas likes to maintain a finished goods inventory equal to 30% of the nest month's estimated sales. How many mugs should the company plan on producing during the month of November? A) 34,300 mugs B) 25,900 mugs C) 23,200 mugs D) 26,800 mugs 8) Gus Inc. bases its selling and administrative expense budget on budgeted unit sales. The sales budget shows 6,600 units are planned to be sold in April. The variable selling and administrative expense is $9.70 per unit. The budgeted fixed selling and administrative expense is $127,380 per month, which includes depreciation of $8,580 per month. The remainder of the fixed selling and administrative expense represents current cash flows. The cash disbursements for selling and administrative expenses on the April selling and administrative expense budget should be: A) $64,020 B) $182,820 C) $118,800 D) $191,400