loader  Loading... Please wait...

Question(s) / Instruction(s):

74.     Bronze Corporation has the following information:

               Month          Budgeted Sales

               May      $46,000
               June      50,000
               July      52,000
               August      48,000

     The cost of goods sold percentage is 65% and the desired inventory level is 25% of next month's sales.      


 

     a.     $40,950
     b.     $32,825
     c.     $32,500
     d.     $17,500     

75.     Platinum Corporation has the following information:

               Month          Budgeted Sales

               May      $46,000
               June      50,000
               July      52,000
               August      48,000

     The cost of goods sold percentage is 65% and the desired inventory level is 25% of next month's sales.


 

     a.     $33,800
     b.     $41,600
     c.     $33,150
     d.     None of these answers is correct.



76.     Pueblo Manufacturing Company has the following information:

               Month          Budgeted Sales

               January     $76,000
               February     85,000
               March     92,000
               April     79,000

               Budgeted          Expenses per Month

               Wages     $15,000
               Advertising      12,000
               Depreciation      3,000
               Other      4% of sales

     All cash expenses are paid as incurred.      


 

     a.     $30,000     
     b.     $30,040
     c.     $31,200
     d.     $33,040

     
77.     Ankeny Manufacturing Company has the following information:

               Month          Budgeted Sales

               January     $76,000
               February     85,000
               March     92,000
               April     79,000

               Budgeted           Expenses per Month

               Wages     $15,000
               Advertising      12,000
               Depreciation      3,000
               Other      4% of sales

     All cash expenses are paid as incurred.      


 

     a.     $33,160
     b.     $30,000
     c.     $3,160
     d.     $33,680

     

78.     Stillwater Manufacturing Company has the following information:

          Month               Budgeted Sales

          January          $76,000
          February       85,000
          March           92,000     
          April           79,000

          Budgeted          Expenses per Month

          Wages            $15,000
          Advertising       12,000
          Depreciation       3,000
          Other      4% of sales

     All cash expenses are paid as incurred.      


 

     a.     $33,680
     b.     $30,000
     c.     $30,680
     d.     None of these answers is correct.
     
     

79.     Des Moines Manufacturing Company has the following information:

          Month               Budgeted Sales

          January          $76,000
          February       85,000
          March           92,000     
          April           79,000

          Budgeted           Expenses per Month

          Wages            $15,000
          Advertising       12,000
          Depreciation       3,000
          Other      4% of sales

     All cash expenses are paid as incurred.      


 

     a.     $30,000     
     b.     $30,040
     c.     $33,040
     d.     $28,200

80.     Oceanside Company’s expected sales for April are $27,600. Information about other budgeted expenses is presented below.
               
Budgeted           Expenses per Month

Wages      $2,000
Advertising       1,680
Depreciation       1,440
Rent       2,560
Other      5% of sales

     


 

     a. $9,060
     b. $7,680
     c. $6,240
     d. $7,620

     
     
81.     Aluminum Company’s expected sales for April are $27,600. Information about other budgeted expenses is presented below.
               
Budgeted           Expenses per Month

Wages      $2,000
Advertising      1,680
Depreciation       1,440
Rent       2,560
Other       5% of sales

     All cash expenses are paid as incurred.      


 

     a.     $9,060
     b.      $7,680
     c.     $6,240
     d.     $7,620
     
          

82.     Angle Company’s expected sales for April are $27,600. Information about other budgeted expenses is presented below.
               
Budgeted           Expenses per Month

Wages      $2,000
Advertising      1,680
Depreciation       1,440
Rent       2,560
Other       5% of sales


 

     a.     Advertising
     b.     Depreciation
     c.     Rent
     d.     All of these answers are correct.

83.     Greedy Company expects August sales to be $32,000. Approximately 25% of sales are cash sales. Collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale. The remaining 5% is expected to be uncollectible.


 

     a.     $8,000
     b.     $12,000
     c.     $16,000
     d.     $20,000
     
     

84.     Felon Company expects a total of $20,000 sales in      June. Of these, credit sales are expected to be $12,000.      Collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale. The remaining 5% is expected to be uncollectible.


 

     a.     $14,000     
     b.     $20,000
     c.     $17,200
     d.     $9,200

     
     

85.     Florida Company expects a total of $10,000 in sales in May, of these, $4,000 sales are expected to be for cash.      Collections are 50% in the month of sale, 40% in the month following the sale, and 5% two months following the sale. The remaining 5% is expected to be uncollectible.      


 

     a.     $4,000
     b.     $10,000
     c.     $7,000
     d.     $5,000

     
     
86.     The following sales budget has been prepared:

          Month          Cash Sales          Credit Sales

               September     $167,000     $123,000
               October     225,000     180,000
               November     330,000     210,000
               December     135,000     190,000

     Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated.      


 

     a.     $325,000     
     b.     $197,000
     c.     $135,000
     d.     $332,000


87.     The following sales budget has been prepared:

               Month     Cash Sales     Credit Sales          

               September     $100,000     $200,000
               October     125,000     180,000
               November     207,000     199,000
               December     67,000     144,000

     Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated.      


 

     a.     $110,000     
     b.     $180,000
     c.     $118,000
     d.     $72,500

     

88.     The following sales budget has been prepared:

               Month     Cash Sales     Credit Sales

               September     $100,000     $200,000
               October     125,000     180,000
               November     130,000     210,000
               December     135,000     190,000

     Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated.


 

     a.     $197,000
     b.     $327,000
     c.     $340,000
     d.     $130,000

     

89.     The following sales budget has been prepared:

               Month     Cash Sales     Credit Sales

               September     $99,000     $250,000
               October     225,000     180,000
               November     310,000     210,000
               December     94,000     170,000

     Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated.


 

     a.     $77,500
     b.     $123,000
     c.     $210,000
     d.     None of these answers is correct.

          

90.     The following sales budget has been prepared:

               Month     Cash Sales     Credit Sales

               September     $123,000     $210,000
               October     125,000     180,000
               November     167,000     260,000
               December     189,000     190,000

     Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated.      


 

     a.     $215,000
     b.     $125,000
     c.     $295,000
     d.     None of these answers is correct.


91.     The following sales budget has been prepared:

               Month     Cash Sales     Credit Sales

               September     $100,000     $200,000
               October     125,000     180,000
               November     130,000     210,000
               December     135,000     190,000

     Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated.      


 

     a.     $190,000
     b.     $75,500
     c.     $116,000
     d.     $210,000

     
92.     The following sales budget has been prepared:

               Month     Cash Sales     Credit Sales

               September     $100,000     $200,000
               October     125,000     180,000
               November     130,000     210,000
               December     135,000     190,000

     Collections are 50% in the month of sale, 40% in the month following the sale, and 10% two months following the sale. No uncollectible accounts are anticipated.      


 

     a.     $100,000
     b.     $300,000
     c.     $272,000
     d.     $200,000

          


93.     Mickey Company has the following information:

               Month          Budgeted Purchases

               January     $26,800
               February     29,000
               March          30,520
               April          29,480
               May          27,680

     Purchases are paid for in the following manner:

               10% in the month of purchase
               50% in the month after purchase
               40% two months after purchase

     


 

     a.     $10,720
     b.     $13,400
     c.     $3,052
     d.     $12,208

     

Find Similar Answers by Subject


Student Reviews

Rate and review your solution! (Please rate on a Scale of 1 - 5. Top Rating is 5.)


Expert's Answer
Download Solution:
$4.00

This solution includes:

  • Plain text
  • Cited sources when necessary
  • Attached file(s)
  • Solution Document(s)



Reach Us

408-538-8534

20-3582-4059

39-008-4233

+1-408-904-6494