Masterson Company's budgeted production calls for 61,000 liters in April and 57,000 liters in May of a key raw material that costs $1.80 per liter. Each month's ending raw materials inventory should equal 20% of the following month's budgeted materials. The April 1 inventory for this material is 12,200 liters. What is the budgeted materials need in liters for April

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.