Question 1 2 pts A Co reported the below cost and revenue formulas. Sales $270 Cost of goods sold $120 Salaries expense $5,500 per month Utilities expense $125 plus $2.500 Rent expense $2.000 per month Misc expense $500 plus $3.250 They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $9.400 Net income $10,820 What is total gross margin for the planning budget? $27,000 $31,500 Not enough information to calculate $33,700 Question 2 2 pts A Co reported the below cost and revenue formulas. Sales $270 Cost of goods sold $120 Salaries expense $5,500 per month Utilities expense $125 plus $2.500 Rent expense $2.000 per month Misc expense $500 plus $3.250 They planned to sell 1,800 units and they actually sold 2,100 units. Following are the actual results from the period. Sales $58,500 Cost of goods sold $24,800 Gross margin $33,700 Salaries expense $6,000 Utilities expense $5,480 Rent expense $2,000 Misc expense $2,400 Net income $10,820 What is total cost of goods sold for the planning budget? $25,200 $24,800 $12 $21,600 Question 5 2 pts The production budget reported the following total production in units for fiscal year 3. The company wants to maintain a desired ending raw material inventory in the current quarter equal to 10% of the next quarter's production. The only raw material used to produce a single unit is the 2 pounds of molding material. The material costs $1.20 per pound. The company began the first quarter of year 3 with 6,600 pounds in the beginning raw material inventory. Production (in units) Q133,000; Q2 40,000; Q3 32,500; Q4 35,550 What is the desired ending inventory for quarter 1? O 3,250 6,600 4,000 8,000