111.Budget Electronics is planning to sell 2,200 and produce 2,000 wicker baskets during June. Each unit requires 120 linear feet of wicker and 0.70 hours of direct labor. Wicker costs $0.35 per linear foot and employees of the company are paid $13.00 per hour. Manufacturing overhead is applied at a rate of 140% of direct labor costs. The company wants to have 10% of the wicker needed for the next month’s production available at the end of each month. The expected production in July is 1,800 baskets. What is the unit cost of each basket produced in June?
A.$51.66
B.$47.34
C.$52.08
D.None of the answer choices are correct.
112.Walker Entertainment is a distributor of video games and expects its video game sales to be as follows for the first 4 months of 2014:
January $100,000
February $150,000
March $180,000
April $200,000
Walker’s cost of goods sold is 70% of sales. Ending inventory is expected to equal 40% of the next month’s cost of goods sold. How much are budgeted inventory purchases for February?
A.$105,000
B.$113,400
C.$117,000
D.$50,400
113.Walker Entertainment is a distributor of video games and expects its video game sales to be as follows for the first 4 months of 2014:
January $100,000
February $150,000
March $180,000
April $200,000
Walker’s cost of goods sold is 70% of sales. Ending inventory is expected to equal 40% of the next month’s cost of goods sold. How much are budgeted inventory purchases for March?
A.$84,000
B.$131,600
C.$126,000
D.$112,000
114.Baby Boo Boutique had sales of $78,000 in December, 2014. Sales for the first three months of 2015 are:
January $84,000
February 80,000
March 68,000
In the past, Baby Boo has found that 25% of the sales revenue is collected in the month of the sale and 75% is collected in the following month. If this pattern continues, what will be the amount of Baby Boo’s cash receipts in February?
A.$20,000
B.$83,000
C.$71,000
D.$81,000
115.Forever 39 has found that 30% of its sales are collected in the month of the sale and the remainder of the sales is collected in the next month. If sales are expected to be $100,000 in April, $120,000 in May, and $80,000 in June, what is the estimated amount of cash receipts for May?
A.$114,000
B.$106,000
C.$92,000
D.$108,000
116.In recent years, Sands Retro Clothing has collected 45% of its sales in the month of the sale, 53% in the month that follows the sale. The other 2% is not collected. During the first five months of 2014, Sands is anticipating sales of $330,000, $415,000, $540,000, $260,000, and $370,000, respectively. What is the amount of cash receipts budgeted for March?
A.$472,950
B.$380,800
C.$473,750
D.$462,950
117.Haverti Auto Mart has budgeted the following amounts for auto part sales in 2014:
April $ 98,000
May 67,000
June 108,000
July 82,000
An analysis of past patterns of receipts shows that 60% of the sales dollars are received in the month of the sale and 40% are received in the following month. Assuming this pattern continues, how much cash does Haverti expect to receive during May?
A.$85,600
B.$97,600
C.$91,600
D.$79,400
118.Cringle Company expects sales as follows:
January $150,000
February 180,000
March 210,000
April 170,000
Sales are made 30% for cash, and 70% on credit. Credit sales are collected 40% in the month of sale and 60% in the next month. How much were cash collections in March?
A.$138,600
B.$255,000
C.$197,400
D.None of the answer choices are correct.
119.Jazzy Janitors has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. 60% are paid in the month after the work is completed and 30% are paid in the second month after the work is completed. During December, 2013, Jazzy Janitors’ invoiced $200,000 to clients. Projected revenues for the first six months of 2014 are given below:
MonthRevenue
January $180,000
February 215,000
March 220,000
April 218,000
May 240,000
June 255,000
What are the expected cash receipts for March, 2014?
A.$224,800
B.$151,000
C.$265,000
D.$205,000
120.Jazzy Janitors has found that only 10% of its invoiced amounts are paid in the same month that the work is completed. Sixty percent are paid in the month after the work is completed and 30% are paid in the second month after the work is completed. During December 2013, Jazzy Janitors’ invoiced $200,000 to clients. Projected revenues for the first six months of 2014 are given below:
MonthRevenue
January $180,000
February 215,000
March 220,000
April 218,000
May 240,000
June 255,000
What are the expected cash receipts for April, 2014?
A.$218,300
B.$242,300
C.$153,800
D.$21,800
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