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15_takehome_ch 9_fall10

15_takehome_ch 9_fall10 - Acc 200P Name Lab Section Lab...

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Acc 200P Name: ___________________________ Lab Section #: _____________________ Lab Instructor’s Name: ______________ Date: ____________________________ TAKE-HOME QUIZ Chapter 9 Reminder - for all problems requiring calculations, you must show your work in the space provided. PROBLEM I : (25 points) Putnam Inc. sells widgets. The price of each widget is $2. Putnam collects 65% of a month’s sales in the month of sale, 30% in the month following sale, and the remaining 5% in the second month following sale. Budgeted sales (in units) for the first three months of 2013 are as follows: January 20,000 units February 15,000 units March 8,000 units How much cash will be collected in the month of March ? Answer: __________________________ PROBLEM II : ( 25 points) Sellars Corp. sells bags of popcorn. The marketing department prepared the following first-quarter sales forecast: January 3,000 bags February 2,800 bags March 3,500 bags There were 240 bags on hand at the beginning of January and the company anticipates selling 2,000 bags in April. Question : If the company tries to maintain 8 percent of next month’s forecasted sales in inventory, what is the projected production for the first quarter ?
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