The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: Units to be produced 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 8,000 6,500 7,000 7,500 Each unit requires 0.35 direct labor-hours, and direct laborers are paid $15.00 per hour, Required: 1. Prepare the company's direct labor budget for the upcoming fiscal year. (Round "Direct labor time per unit (hours)" answers to 2 decimal places.) Rordan Corporation Direct Labor Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Required production in units Direct labor time per unit (hours) Total direct labor-hours needed Direct labor cost per hour Total direct labor cost Sales Cost of goods sold Selling and administrative expenses Accounts receivable, May 1st Accounts receivable, May 31st $ 118,000 $ 83,000 $ 17,000 $ 18,000 $ 24,500 If all of the company's sales are on account, what is the amount of cash collections from customers included in the cash budget for May? Multiple Choice $118,000 $100,000 $111,500 $106,500 Assume a merchandising company's estimated sales for January, February, and March are $106,000, $126,000, and $116,000, respectively. Its cost of goods sold is always 35% of its sales. The company always maintains ending merchandise inventory equal to 20% of next month's cost of goods sold. What are the required merchandise purchases for January? Multiple Choice $35,700 $44,100 $38,500 $44,180