Our WIdget Company has the following budgeted information available for the month of May ⢠Sales of 50,000 units and production of 60,000 units. The selling price is $12 per unit. 60% of sales are in cash; 80% of sales on account are collected in the first month and 20% with the remainder the month following. April accounts receivable ending balance is $20,000.
⢠Direct material purchases of $200,000. $175,000 of direct materials will be used in production during the month. All purchases are paid for in cash.
⢠4,000 hours of direct labor at $30 per hour.
⢠Manufacturing overhead of $700,000, including depreciation of $400,000.
⢠SG&A expenses of $400,000, including depreciation of $200,000.
⢠No capital expenditures or dividends.
⢠No beginning inventories or accounts receivable.
What are cash inflows and cash outflows?
a. $552,000; $820,000.
b. $552,000, $1,420,000.
c. $572,000; $795,000.
d. $212,000;$1,420,000.
e. none of the answers is correct.

The simple interest in a loan of $200 at 10 percent interest per year is

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