Tyler Corp has the following budgeted sales for the first 4 months of next year: January February March April Cash sales $80,000 $60,000 $50,000 $45,000 Credit sales $350,000 $200,000 $145,000 $130,000 Total sales $430,000 $260,000 $195,000 $175,000 I The Company is in the process of preparing a cash budget and must determine the expected cash collections. Accordingly, the following information has been assembled: Collections on credit sales: Month of sale 60% Month after sale 30% 2nd month after sale 10% The accounts receivable balance on January 1 is: $155,000 of this amount, $132,000 represents uncollected December sales and $23,000 represents uncollected November sales. 14 The total cash collected in January would be: A. $412,000 B. $445,000 C. $389,000 D. $346,000 E. None of the above 15 Hayes Corporation uses machine hours (MHs) as its denominator activity for fixed manufacturing overhead (FMOH). For the most recent year, the company showed the following data. Actua(FMOH cost FMOH Budget Variance FMOH Volume Variance Standard MHs allowed for actual output S $ S 280,000 39,000 Favorable 11,000 Favorable 600,000 MHS The budgeted MHs for Hayes was closest to: A. 621,429 MHS B 573,810 MHS C. 628,696 MHS D. 580,000 MHs E. None of the above Page 9 of 12 Taft Corporation uses a standard costing system in which variable manufacturing overhead is assigned to production on the basis of machine hours. The following data pertain to one month's operations: Variable manufacturing overhead cost incurred: Total flexible budget variable overhead cost: Standard machine hours allowed for actual production: Actual machine hours incurred: $68,000 $74,550 3,550 MHS 3,000 MHS 9. The variable overhead rate variance is: A. $6,550 Favorable B. $6,550 Unfavorable C. $5,000 Favorable D. $5,000 Unfavorable E None of the above