Trumbull Corporation budgeted sales on account of $120,000 for July, $211,000 for August, and $198,000 for September. Experience indicates that none of the sales on account will be collected In the month of the sale, 60% will be collected the month after the sale, 36% in the second month, and 4% will be uncollectible. The cash receipts from accounts receivable that should be budgeted for September would be: $169, 800 $147, 960 $197, 880 $194, 760 Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in units) are planned for next year. If Paradise Corporation plant to sell 480.000 units during next year, the number of units it would have to manufacture during the year would be: 440,000 units 480,000 units 510,000 units 450,000 units Ng Company sells one product that has a sales price of $20 per unit, variable costs of $12 per unit, and total fixed costs of $300,000 What Is the amount of sales volume in dollars necessary to attain a desired profit of $100,000? $250,000 $750,000 $1,000,000 $666, 667 Select the correct statement regarding vertical analysis. Vertical analysis of the income statement involves showing each item as a percentage of sales. Vertical analysis of the balance sheet Involves showing each asset as a percentage of total assets. Vertical analysis examines two or more items from the financial statements of one accounting period. All of these answers are correct. During its first year of operations, Silverman Company paid $14,000 for direct materials and $19,000 for production workers' wages, lease payments and utilities on the production facilities amounted to $17,000 while general, selling, and administrative expenses totaled $8,000. The company produced 5,000 units and sold 3,000 units at a price of $15.00 a unit. What Is Silverman's cost of goods sold for the year? $50,000 $24, 600 $30,000 $41,000