The master budget process usually ends with: a. The production budget b. The sales budget c. The selling expenses budget d. The budgeted balance sheet Jase Manufacturing Co.'s static budget at 10,000 units of production includes $40,000 for direct labor and $4,000 for electric power. Total fixed costs are $24,000. at 12,000 units of production, a flexible budget would show a. variable costs of $52, 800 and $29,000 of fixed costs b. variable costs of $44,000 and $24,000 of fixed costs c. variable costs of $52, 800 and $24,000 of fixed costs d. variable and fixed costs totaling $68,000 If the expected sales volume for the current period is 10,000 units, the desired ending inventory is 500 units, the beginning inventory is 300 units, the number of units set forth in the production budget, representing total production for the current period is: a. 9, 500 b. 9, 700 c. 10, 200 d. 10, 500 Newark Co. has $296,000 in accounts receivable on January 1, 2006. Budgeted sales for January are $860,000. Newark expects to sell 20% of its merchandise for cash. Of the remaining 80% of sales on account, 75% arc expected to be collected in the month of sale and the remainder the following month. The January cash collections from sales are: a. $812,000 b. $688,000 c. $984,000 d. $468,000 Morris Company pays each of its three sales people a base salary of $200 per month plus a commission of 10 percent of sales. The base salary is paid each month as incurred; the 10 percent commission is paid the month following the month of sale. The total sales for the past four months are as follows: September $10,000 October $15,000 November $20,000 December $30,000 The total salary and commission cash disbursements for November add up to a. $1, 500 b. $2, 600 c. $3, 600 d. $2, 100