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g , e_. Corporation Is a merchandising company that is preparing a master budget for the third quarter oi the calendar year. The company's balance sheet as ofJune 30th is shown below: Budget6827 corporation Balance Sheet June 33 Assets Cash 5 33,000 Accounts receivable 126,606 Inventory 69.750 Plant and equipment. net of depreciation 220 000 Total assets $498,756 Liabilities and Stockholders' Equity Accounts payable 5 81.000 Common Stock 348,666 Retained earnings 69 756 Total liabilities and stockholders' equity 5498.750 The company managers have made the following additional assumptions and estimates: Estimated sales for July, August, September, and October will be $310,000, $330,000, $320,000, and $340,000, respectively. All sales are on credit and all credit sales are collected. Each month's credit sales are collected 35% in the month of sale and 65% in the month following the sale. All oithe accounts receivahle at June 30 will be collected in July. 3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 75% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All ofthe accounts payable at June 30 will be paid in July. Monthly selling and administrative expenses are always $58,000. Each month $6,000 0! this total amount ls depreciation expense and the remaining $52,000 relates to expenses that are paid In the month they are Incurred. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30. N 5"? How much is the Budget-6827 Company's expected Accounts Receivable balance on September 30? Multiple Choice 0 $326,500 $10,000 $214,500 000 3203.000 -- Corporation has two departments, Kids and Adults. The company's most recent monthly contribution format income statement follows: Department Total Kids Adults Sales $4,200,000 $3,000,000 $1,200,000 Variable expenses 2,000,000 ,500,00 500,000 Contribution Margin 2,200,000 ,500,00 700,000 Fixed Expenses 2,200,000 1,300,000 900,000 Net operating income (loss) 200,000 (200,000) A study indicates that $150,000 of the fixed expenses being charged to the Adults Department are sunk costs or allocated costs that will continue even if the Adults Department is dropped. In addition, the elimination of the Adults Department will result in a 20% decrease in the sales of the Kids Department. If the Adults Department is dropped, what will be the effect on the net operating income of the DropSeg-6950 Corporation as a whole? Multiple Choice O Decrease by $270,000 O Decrease by $230,000 O Decrease by $250,000 O Increase by $270,000wen commuter bus company uses two measures of activity, routes and commuters, in the cost formulas in its budgets and performance reports. The cost formula for bus operating costs is $56,900 per month plus $2,886 per route plus $17 per commuter. The company expected its activity in November to be 88 routes and 258 commuters, but the actual activity was 95 routes and 267 commuters. The actual cost for bus operating costs in November was $305,100. The spending variance for bus operating costs in November would be closest to: Multiple Choice O $30,509 Unfavorable O $10,154 Unfavorable O $10,154 Favorable O $30,509 Favorable O $20,355 Favorable