Question :
138. A company preparing completing their Cash Budget. The following data : 1226976
138. A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments.
January
February
March
Cash receipts
$1,061,200
$1,182,400
$1,091,700
Cash payments
984,500
1,210,000
1,075,000
The company’s cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000. What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for January? A. $26,700 excessB. $136,700 deficiencyC. $356,700 excessD. $60,000 excess
139. A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments.
January
February
March
Cash receipts
$1,061,200
$1,182,400
$1,091,700
Cash payments
984,500
1,210,000
1,075,000
The company’s cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000. What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for February? A. $109,100 deficiencyB. $10,900 excessC. $900 deficiencyD. $109,100 excess
140. A company is preparing completing their Cash Budget. The following data has been prepared for cash receipts and payments.
January
February
March
Cash receipts
$1,061,200
$1,182,400
$1,091,700
Cash payments
984,500
1,210,000
1,075,000
The company’s cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000. What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for March? A. $214,200 excessB. $15,800 excessC. $60,000 deficiencyD. $25,300 excess
141. An August sales forecast projects 6,000 units are going to be sold at a price of $10.50 per unit. The desired ending of units is 15% higher than the beginning inventory of 1,000 units. Total August sales are anticipated to be: A. $67,500B. $63,000C. $60,000D. $62,500
142. A department store has budgeted sales of 12,000 men’s suits in September. Management wants to have 6,000 suits in inventory at the end of the month to prepare for the winter season. Beginning inventory for September is expected to be 4,000 units. What is the dollar amount of the purchase of suits? Each suit has a cost of $75. A. $900,000B. $1,050,000C. $1,350,000D. $1,200,000
143. A sporting goods store purchased $7,000 of ski boots in October. The store had $3,000 of ski boots in inventory at the beginning of October, and expects to have $2,000 of ski boots in inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October? A. $10,000B. $5,700C. $8,000D. $9,500
144. Truliant co. sells a product called Withall and has predicted the following sales for the first four months of the current year:
January
February
March
April
Sales in units
1,700
1,900
2,100
1,600
Ending inventory for each month should be 20% of next month’s sales, and the December 31 inventory is consistent with that policy. How many units should be purchased in February? A. 1,940B. 1,800C. 1,900D. 1,850
145. Yadkin Valley’s April sales forecast projects that 6,000 units will sell at a price of $10.50 per unit. The desired ending inventory is 30% higher than the beginning inventory, which was 1,000 units. Budgeted purchases of units in April would be: A. 7,000 unitsB. 6,000 unitsC. 6,300 unitsD. 7,300 units
146. Next year’s sales forecast shows that 20,000 units of Product A and 22,000 units of Product B are going to be sold for prices of $10 and $12, respectively. The desired ending inventory of Product A is 20% higher than its beginning inventory of 2,000 units. The beginning inventory of Product B is 2,500 units. The desired ending inventory of B is 3,000 units. Total budgeted sales of both products for the year would be: A. $42,000B. $200,000C. $264,000D. $464,000
147. Next year’s sales forecast shows that 20,000 units of Product A and 22,000 units of Product B are going to be sold for prices of $10 and $12, respectively. The desired ending inventory of Product A is 20% higher than its beginning inventory of 2,000 units. The beginning inventory of Product B is 2,500 units. The desired ending inventory of B is 3,000 units. Budgeted purchases of Product A for the year would be: A. 22,400 unitsB. 20,400 unitsC. 20,000 unitsD. 12,200 units
