Questions 15 through 18 are based on the following informati…

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 Cost of ingredients? 

ABC Company has budgeted the following sales for the next si…

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 June?

ACG Inc. has budgeted the following sales for the next six m…

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 May?

Questions 19 through 24 are based on the following informati…

Questions 19 through 24 are based on the following information: ABC Co. makes widgets.  The company uses standard costing with the following standards per widget: Materials: 8 kilograms per unit at $0.80 (80 cents) per kilogram Labor: 1.5 hours per unit at $20 per hour  During the month of September, the company produced and sold 1,000 units. 9,000 kilograms of materials were purchased and used in production.  The total cost of the materials was $6,750.  Labor costs were $33,600 and represented payment for 1,600 hours worked.      The labor efficiency variance is: