1.Which of the following is not an operating budget?
Direct labor budget
2. Which of the following expenses would not appear on a selling and administrative
3. The production budget shows planned sales of 26,400. Desired ending inventory is 4,200. Units to be produced are 28,500. What is the beginning inventory?
4. If there were 70,000 pounds of raw materials on hand on January 1, 140,000 pounds are desired for inventory at January 31, and 420,000 pounds are required for January production, how many pounds of raw materials should be purchased in January?
5. JKL Company expects the following sales and collection pattern for the indicated four months of the year:
· 8% of credit sales are collected in the same month
· 72% of sales are collected in the following month
· 15% of sales are collected in the second following month
What are the projected cash collections for the month of September?
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