Linda Keller opened a consulting firm, Keller Consulting P. C. During its first month of operations, the following transactions were completed: I. Linda invested $30,000 in the business, which in turn issued common stock to her
II. The business purchased equipment on account for $65.000
III. The business provided consulting services on account, $13.000
IV. The business paid cash salaries to the receptionist, $2.000
V. The business received cash from a customer as payment on account 56.000
VI. The business borrowed $11.000 from the bank, issuing a note payable At the end of the month total liabilities are:
A. $76,000
B. $78,000
C. $11,000
D. $65.000

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.)