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Michard Corporation Makes One Product and It Provided the Following

question 25

Multiple Choice

Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit.
B. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month.
C. The ending finished goods inventory equals 20% of the following month's sales.
D. The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.00 per pound.
E. Regarding raw materials purchases, 30% are paid for in the month of purchase and 70% in the following month.
F. The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-hours.
G. The variable selling and administrative expense per unit sold is $3.40. The fixed selling and administrative expense per month is $80,000.
The budgeted required production for May is closest to:

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Definitions:

Right to Privacy

A legal principle that protects individuals from intrusion into their personal life, encompassing freedom from surveillance, data protection, and bodily autonomy.

Personal Information

Data about an individual that can be used on its own or with other information to identify, contact, or locate a single person.

Liability

The state of being legally responsible for something, typically a debt or obligation.

Vicariously Liable

The condition of being held legally responsible for the actions or omissions of another person, often in the context of employment.