ACG Inc. has budgeted the following sales for the next six months of 2025. April May June July August September Sales (units) 2,300 3,100 2,700 2,900 2,800 2,400 The company wants its ending inventory levels to be equal to 5% of the following month’s unit sales. The inventory at the end of March was 115 units. What is the required production for June?

XYZ Co. manufactures blankets for horses. Each blanket requires 8 yards of cloth. Each blanket requires 1.0 hours of direct labor, and the average hourly cost of direct labor is $22. October November December Budgeted sales (in units) 2,000 2,500 4,000 Budgeted production (in units) 2,200 2,750 4,400 What is the budgeted cost of XYZ’s direct labor for November?

XYZ Co. manufactures blankets for horses. Each blanket requires 8 yards of cloth. Each blanket requires 1.0 hours of direct labor, and the average hourly cost of direct labor is $22. October November December Budgeted sales (in units) 2,000 2,500 4,000 Budgeted production (in units) 2,200 2,750 4,400 What is the budgeted cost of XYZ’s direct labor for December?

A public acquisition can be structured as a “two-step” tender offer on either a negotiated or unsolicited basis, followed by a merger.  In step 1 of the two-step process, the tender offer is made directly to the target’s public shareholders with the target’s approval pursuant to a definitive agreement.  What percent of tendered shares does the acquirer generally need to reach in order to execute a squeeze-out scenario?  

ABC Company has budgeted the following sales for the next six months of 2025. April May June July August September Budgeted sales $324,000 $396,000 $450,000 $540,000 $468,000 $414,000 The company expects 80% of a month’s sales to be collected in the month of sales, and the remaining 20% to be collected in the month following the sale. March sales totaled $300,000. What are the expected cash collections during the month of August?

Jax Co. has budgeted the following sales for the second quarter of 2025. April May June Budgeted sales $690,000 $580,000 $490,000 The company expects 70% of a month’s sales to be collected in the month of sales, another 20% are collected in the month following the sale, and the remaining 10% are collected in the second month following the sale. What is the accounts receivable balance expected to be on June 30th?

Questions 15 through 18 are based on the following information: JAX Fish Factory is a restaurant that serves mediocre seafood.    The following table provides data concerning the company’s costs (q refers to the number of meals served): Formula Cost of ingredients $7.50q Wages and salaries $10,000 Utilities $800 + $0.20q Rent $3,000 Miscellaneous $900 + $0.80q Assume that 2,000 meals were served last month.  What amount would the flexible budget report for utilities? 

ABC Company has budgeted the following sales for the next six months of 2025. April May June July August September Budgeted sales $324,000 $396,000 $450,000 $540,000 $468,000 $414,000 The company expects 80% of a month’s sales to be collected in the month of sales, and the remaining 20% to be collected in the month following the sale. March sales totaled $300,000. What are the expected cash collections during the month of July?

The acquirer’s EPS pro forma for the transaction is compared to its EPS on a standalone basis.  If the pro forma EPS is higher than the standalone EPS, the transaction is said to be _________.  Conversely, if the pro forma EPS is lower, the transaction is said to be _____________.

Late in World War II, the US launched a devastating firebombing of what Japanese city?