Question : 131. Fashion Jeans, Inc. sells two lines of jeans; Simple Life : 1246877

131. Fashion Jeans, Inc. sells two lines of jeans; Simple Life and Fancy Life. Simple Life sells for $85.00 a pair and Fancy Life sells for $100.00 a pair. The company sells all of its jeans on credit and estimates that 60% is collected in the month of the sale, 35% is collected in the following month, and the rest is considered to be uncollectible. The estimated sales for Simple are as follows: January 20,000 jeans, February 27,500 jeans, and March 25,000 jeans. The estimated sales for Fancy are as follows: January 18,000 jeans, February 19,000, and March 20,500 jeans. What are the expected cash receipts for the month of March? A. $3,988,125B. $2,505,000C. $2,125,000D. $4,175,000

132. The Blackbird Company estimates the following cash payments for the month of July:Total Direct Materials Purchases: July $635,000, June $500,000, May $575,000Total Direct Labor $67,000Other Manufacturing Costs (Including Depreciation $25,000) $160,000Selling and Administrative Expenses $55,000Capital Additions $50,000Dividends to Stockholders $30,000It is estimated that Material Purchases are paid at a rate of 70% in the month of purchase, with the remainder paid the following month. All other expenses are paid in the month they occur. A. $956,500B. $931,500C. $972,000D. $997,000

133. The operating budgets of a company include: A. the cash budgetB. the capital expenditures budgetC. the financing budgetD. the production budget

134. 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

135. 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

136. 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