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Calculate ending balance for november

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Problem 1: Calculate ending balance for November. Your Company makes and sells Product K. Each unit of Product K sells for $26 dollars and has a unit variable cost of $18.

The company has the following budgeted data for November:

  • Sales of $1,300,000, all in cash.
  • A cash balance on November 1 of $45,000.
  • 80% of the variable costs relating to the November sales were paid in cash in November.
  • $270,000 of September variable costs were paid in November.
  • Budgeted fixed expenses for November $250,000, including depreciation expense of $25,000.
  • A minimum cash balance on November 30 of $75,000.

Reference no: EM132949035

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