Reference no: EM131263953
1. Sales commissions are paid in cash in the month following the month in which the expense is recognized. All other relevant expense items are to be paid in the month in which they are recognized. Based upon these management assumptions, and your analysis of the costs involved, the amount of cash to be paid for operating (S,G&A) expenses during the January month is expected to be: a. $12,000 b. $25,900 c. $26,800 d. $37,900 e. $38,800
All computational work must be shown for problems 2-4
2. Jess, Inc. projected sales to be $260,000 in June, $270,000 in July and $300,000 in August. The company expects to collect 20% of a month's sales in the month of sale, 60% in the month following the sale, and 18% in the second month following the sale. The remaining amounts are expected to be uncollectible. Cash collections in August would be: a. $60,000 b $254,600 c. $266,200 d. $268,800 e. $277,000
3. Rangler, Inc. has projected sales to be $260,000 in June, $270,000 in July and $300,000 in August. The company expects to collect 30% of a month's sales in the month of sale, 60% in the month following the sale, and 10% in the second month following the sale. The budgeted Accounts Receivable balance on August 31st at close of business would be: a. $96,000 b. $210,000 c. $237,000 d. $264,000 e. $300,000
4. Dexter, Inc. is in the process of preparing a Purchases Budget for the upcoming April-June quarter. The company has forecasted total sales revenue as follows: March $72,000 April $93,000 May $102,000 June $123,000 Cost of goods sold is expected to be 60% of sales. The company would like to have ending inventory each month equal to 10% of the following month's predicted cost of sales. Given these requirements, the total amount of purchases required for April would be: a. $ 5,580 b. $ 55,800 c. $ 56,340 d. $ 61,920 e. $ 93,000
|
Are their natural clusters in the data
: STA 141A Fall 2016 Assignment Topic: R Programming. Are their natural clusters in the data? Are these clusters related to different natural strata determined by the values of the categorical variables like Ed, Race, Sex, Smoke
|
|
Column headings and compute depreciation for each year
: A machine costing $257,500 with a four-year life and an estimated $20,000 salvage value is installed in Luther Company’s factory on January 1. The factory manager estimates the machine will produce 475,000 units of product during its life. Prepare a ..
|
|
What are the weights on debt and equity
: This company's stock is currently selling for $7.50 per share and the bonds are selling for $889.50 per bond. These bonds' yield to maturity is 7.6%. The beta for this company is approximately equal to 1.1. The yield on a 6-month Treasury bill is 3.5..
|
|
Compute the adjusted gross income and taxable income
: Compute: 1) Adjusted Gross Income, 2) Taxable Income, 3) Tax Owed or Refunded?
|
|
Amount of cash to be paid for operating expenses
: Sales commissions are paid in cash in the month following the month in which the expense is recognized. All other relevant expense items are to be paid in the month in which they are recognized. Based upon these management assumptions, and your analy..
|
|
Compute the annual depreciation and the book value year
: You buy office furniture. The office will be open for 6 years, and then you will sell the furniture. The purchase price of the furniture is $40,000. It will contribute to the profitsin the amount of $20,000 per year. MARCS is 7 years with 150% DB. Co..
|
|
How far can light travel in one year
: How far can light travel in one year? If you throw a 0.25-kg ball with a force of 20 N, what's the acceleration of the ball? Which of the following best demonstrates the effect of static friction?
|
|
Operations reported on variable costing income statement
: A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (10,000 units): Direct materials $140,000 Direct labor 40,000 Variable factory overhead 20,000 Fixed factory overhead 4,000 $204,000 Ope..
|
|
What was the firm''s net income after taxes
: Tanner Auto Parts recently reported $25,000 of sales, $18,000 of operating costs other than depreciation, and $3,200 of depreciation. The company had no amortization charges. It had $10,000 of bonds that carry a 5.5% interest rate, and its federal-pl..
|