My brother-in-law worked as a full-time school teacher in san diego for 35 years. when he completed his 35 years of service, he retired and now receives -- based on his salary and years of service -- $6,000 per month for the rest of his life. this type of employer-sponsored retirement plan is best described with which of the following phrases:

(a) fixed compensation
(b) defined benefit
(c) perpetual benefit
(d) contingent benefit
(e) defined contribution

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.)