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Unformatted text preview: 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. There were 240 bags on hand at the beginning of January and the company anticipates selling 2,000 bags in April....
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This note was uploaded on 01/11/2011 for the course ACC 200 taught by Professor Buckless during the Winter '08 term at N.C. State.
- Winter '08
- Managerial Accounting