The following information was reported for Lake Co.:

Beginning cash balance	$24,000
Cash payments	$42,000
Cash receipts	$26,000
Cash balance required	$22,000

How much cash will Lake Co. have to borrow to meet itscash balance requirements?

Question 12 options:

	$ 9,000
	$ 13,550
	$ 14,000
	$ 11,000

Question 13 (2.5 points)

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Garth Inc. has determined the following monthly budget numbers based on a budgeted production level of 2,000 units:

Direct Materials	$30,000
Factory property taxes	$15,000
Factory utilities	$3,000

The actual production level during February was 3,000 units. Based on the information provided, determine thedirect material & factory property taxes, respectively, for February.

Question 13 options:

	$45,000 and $10,000
	$45,000 and $15,000
	$30,000 and $15,000
	$30,000 and $10,000