Acme Company is preparing its budget for the upcoming year. Cash sales are budgeted at $172,000 for May and $190,000 for June, and sales on account are budgeted at $360,000 for May and $370,000 for June. For its credit sales, Acme collects 20% in the month of the sale, 60% in the month following the sale, and 20% in the second month following the sale. The accounts receivable balance on May 1 is $275,000, of which $205,000 represents uncollected April sales and $70,000 represents uncollected March sales. What are the total budgeted cash collections during the month of May?

Acme Company has a minimum required rate of return of 8.5%. Acme has three divisions, Divisions R, S, and T. During the current year, Division T reports a return on investment of 16.0% and residual income of $33,000. What is Division T’s operating income? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

Acme Company, a retailer, is preparing its merchandise inventory purchases budget for the upcoming year. For budgeting purposes, Acme’s policy is to maintain an inventory balance (safety stock) equal to a percentage of the next month’s cost of goods sold. Which of the following statements are true?

Acme Company’s variable expense ratio is 75% and the company’s break-even point in sales revenue is $675,000. If Acme reports a net operating loss of $12,000, what are its actual sales revenues? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

Acme Company’s variable expense ratio is 75% and the company’s break-even point in sales revenue is $675,000. If Acme reports a net operating loss of $32,000, what are its actual sales revenues? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

Acme Company has a minimum required rate of return of 8.5%. Acme has three divisions, Divisions R, S, and T. During the current year, Division T reports a return on investment of 16.0% and residual income of $34,500. What is Division T’s operating income? Round to the nearest whole dollar amount and do not enter a dollar sign or a decimal point (e.g., enter 89, not $89.00).

Acme Company, a retailer, is preparing its selling and administrative expenses budget for the month of June. Sales are budgeted at $500,000 for May, $450,000 for June, and $550,000 for July. Selling expenses are budgeted at $9,000 plus a percentage of monthly sales revenue. The selling expenses budget for the month of May is $24,000. Budgeted fixed administrative expenses include rent of $17,000 and depreciation expense of $7,100. Variable administrative expenses are budgeted at 4% of monthly sales revenue. Capital expenditures related to fixed assets used in selling and administrative activities are budgeted at $5,750 for the month of June. What are the budgeted cash payments for selling and administrative operating expenses for the month of June?

Acme Company produces and sells a single product. Acme’s budget for the upcoming year assumes sales of 3,600 units, a selling price of $55.00 per unit, variable costs of $22.00 per unit, and fixed costs of $18.25 per unit. What is the margin of safety in terms of sales revenue?

You receive a referral for an 8-month-old, in the chart you read there was an incident of shaken baby syndrome. What is the most likely diagnosis you will be treating?

Which of the following statements is correct about Intellectual Disability (ID)? (Check all that apply).