Which of the following statements is true about the strategic plan? Multiple Choice It is created as a thought exercise for long-term planning purposes, but it does not relate to daily activities It is management's vision of individual professional development goals over the long term. It is management's vision of what they desire the organization to achieve over the long term, It is created by employees of a company and shared with management for execution Jaybed Inc. produces leather handbags. The sales budget for the next four months is: July 5,900 units, August 7,400, September 7800, October 8.200 Jaybird Inc's ending finished goods inventory policy is 10% of the following month's sales. Each handbag requires 21 hours of unskilled labor (paid $17 per hour) and 2.3 hours of skilled labor (paid $19 per hour) How much is total labor cost during the three months July through September? Mutiple Choice SUB1952 550852 $180.582 Marlow Company produces hand tools. A production budget for the next four months is as follows: March 10.300 units, April 13,600, May 16,600, and June 21,000. Marlow Company's ending Brushed goods inventory policy is 20% of the following month's sales. Meadow plans to sell 16,000 units in May. How many units will be sold in April? Mule Choice 11.000 12380 11620 19.570 Jan Inc. produces leather handbags. The production budget for the next four months is July 5.800 units, August 7.000, September 2800 October 300 Each handbag requires 15 hours of unsalted labor paid $18 per hour) and 2.5 hours of skilled labor (paid $25 per hour). What will be the total labor cost for the month of August Multiple Choce O O $432500 1626.500 $1000 $140040 Atlantic, Inc. has prepared the following budgets for March in March, budgeted production equals budgeted sales of 2.800 units, and direct materials Inventory will stay constant Direct materials Direct labor $10.50 per unit $14.40 per unit Variable manufacturing overhead $ 9.30 per unit $9,300 Fixed manufacturing overhead What is budgeted cost of goods sold for March? Mutiple Choc $105.060 $0.300 $5.00 $144.700 Dayton has forecast sales to be $214,000 in February, $277,000 in March, $293,000 in April, and $314,000 in May. The average cost of goods sold is 60% of sales. Al sales are made on credit and sales are collected 55% in the month of sale, 30% the month following and the remainder two months after the sale What are budgeted cash receipts in May Mutale Choce 02350 $25850 $170,000 $300