Gar, Inc.’s trial balance reflected the following liability account balances at December 31, year 1:

Accounts payable $19000
Bonds payable due year 2 34000
Deferred income tax liability 4000
Discount on bonds payable 2000
Dividends payable on 2/15/Y2 5000
Income tax payable 9000
Notes payable due 1/19/Y3 6000

The deferred income tax liability is based on temporary differences stemming from different depreciation methods for financial reporting and income taxes.

In Gar’s December 31, year 1 balance sheet, the current liabilities total was:

a. $71,000.
b. $69,000.
c. $65,000.
d. $67,000.

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)