Use the following information to determine the ending cash balance to be reported on the month ended June 30 cash budget.
a.	Beginning cash balance on June 1, $94,200.
b.	Cash receipts from sales, $414,000.
c.	Budgeted cash disbursements for purchases, $269,000.
d.	Budgeted cash disbursements for salaries, $95,200.
e.	Other budgeted cash expenses, $57,200.
f.	Cash repayment of bank loan, $32,200.
g.	Budgeted depreciation expense, $34,200.

$111,800.

$86,800.

$77,600.

$54,600.

$20,400

The following present value factors are provided for use in this problem.

Periods	Present Value of $1 at 8%	Present Value of an Annuity of $1 at 8%
1	0.9259	0.9259
2	0.8573	1.7833
3	0.7938	2.5771
4	0.7350	3.3121

Xavier Co. wants to purchase a machine for $37,300 with a four year life and a $1,000 salvage value. Xavier requires an 8% return on investment. The expected year-end net cash flows are $12,300 in each of the four years. What is the machine's net present value (round to the nearest whole dollar)?

$4,174.

$3,439.

$41,474.

$(4,174).

$(3,439)

A company's flexible budget for 15,000 units of production reflects sales of $330,000; variable costs of $90,000; and fixed costs of $97,500. Calculate the expected level of operating income if the company produces and sells 18,000 units. A. $156,000. B. $171,000. C. $105,000. D. $190,500. E. $142,500.