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MGA 202 A Fall 2017 Quiz #7 Time: 15 minutes Name Section # There are questions on the front and back of this page. Please show ealculations clearty for partial credits. l. Antique Lamp Co, manufactures tiffany lamps. The controller of the company i is currently preparing a budget for February of 2018 p . The following sales forecast has been developed January, 5,000 lamps @3100 per unit February, 6,000 lamps @$100 per unit March, 7,000 lamps @5100 per unit Assume that 70% of the sales revenue is is expected to be collected in the next month, and 5% is ancollectable estimated to be eollected in the current month, 25% The inventory of lamps at the end of cach month must be oqual to 20% ofthe budgeted sues for the next month a. Budgeted cash collected from sales during Febraary is Ans: $ b. Badgeted production in February is: units Ans: Turn this page over for remaining questions