Week 4 Mod 4.2 Mastery_test George 2

Week 4 Mod 4.2 Mastery_test George 2 - 02500411002.de Aug 1...

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Unformatted text preview: 02500411002.de Aug 1 2011 #0110500“ 5 points Photo Supplies, inc. is pianning forihe 3rd qoaﬂet The sales bud-get for {he 3rd quarter is as follows: m September \$50,000 \$75,000 \$30,000 Budgeting MT'EN Q2115 Collections for July = \$ 5?,400 Based on history, Photo Supplies, inc. has detefminedihat 50% of Explanation of Correct Answer sales are coiiededin the month ofsaie, 30% in the monk: foiiowing me sale and 3310 remaining 20% is 0011001002 months aﬂer me sale. Cash Canadians farJuJy; May 521105 10011020050000 and June saies 10121100058000. {Ma-y. 33195) \$59,099 * 295;, = 5 1o_mg (June-Sales] \$58,000*30% = 0 17,400 {301053051 \$50,000*50% = 0 30,000 What is me amount of expeded coiieoﬁons for July“? Expected Cdlectioa'is for November = \$10,000 + \$117,400 + \$30,000 =Sﬁ,400 O Show my answer _ a Close Mastery Test total points possible: 20 G) Show the correct answer Explanatlnn .7 Budgeting eboome, George Carmella ateEubmit‘hed: Mon Aug 1 21111 Ei/EilrEﬁrEi Based on sales projections, Jump on itneeds to budgetfor purchases to meetpossible sates demands. The sates budget for the ‘lst ouaﬁershows the following: January sop units Harctl 700 units February 5430 units Eludgeting MTo2 (11.xls 41 jump on it desires to have 3(3‘56 oftne foilowing month's sales budget as ending inventory. The purchase price of‘i unitis \$2210. Beginning inventory for January would be the desired ending inventory for December. How many units need to be purchasedin January? MasteryTest total points possible: 2U Close /7"i§tiuestion i' / 5 points Units requiredfor January 2 SFIZI Explanation of Correct Answer Units Required fdr January — Estimated Sales January + Desifed ending inventory = 600 units + 150 units {February 500 units * 30%} = 750 needed units Needed units - Beginning inventory = 750 units — 180 units {600 " 30%} = ﬂ!) units O Show my answer G) Show the correct answer Explanation Explanation of Correct Answer .7 _ I EAdvertising ssooo .:F.'- . r-. ﬁCommissions \$12,000 ' ' 'Rent \$2 500 1 4 , , M Utilities \$1.1oo :Wages \$18500 gJanuary purchases \$144,000 * 50% =\$0E-,400 Desk Makers Inc. estima es that it pays 50% ofi - December pumhaseg \$155’UUU 40% : \$EE‘UUU month ofpurohase and 40% in the month aﬁerth _ _ Decemberpurchases totaled \$105,000. Ail othe :Tutal CEEH D'Eburﬁements fUrJanuarV for in the month they a e incurred. Here is a rate = \$9,000+ \$12,000 + \$2,500 + \$1,100 + \$13,500 + \$05,400 + \$55,000 other expenses forthe 1st quarter ofthe year. = \$195,500 January lo lll| _ Purchases \$144,ooo \$173,ooo ai-rsopoo ' Cash disbursements forJanuaor = \$ Fa: 5.“.- Advertising ssooo \$11,ooo \$1o,ooo Commissions \$12,000 \$14,000 \$13,000 Utilities \$1,100 \$1,000 \$900 Wages \$13,500 \$19,000 \$19,300 ail Budgeting MTQB 02.05 What is the amount of cash disbursements forJanuary? r— O Show my answer '— . CI ,- - ' ' - Explanation GEE HEISTEI'y Testtotal points possrble. 20 G) Show the correctanswer i ESLrElvEJyl} Based on the following assumptions, determine what needs will be forAdvantage Market assuming they have ending cash balance of\$5,000. Please assume that tl' cash balance for all months was \$0 and that 30% ofse collected duringthe month ofsale, 15% in the month a the 2nd month afterthe sale. Septembersales were \$ Inventory purchases are paid for 100% in the month fol purchase. All other expenses including eguipmen E? gum :nPIﬂII-uull ul I'll-ll I'Ip‘. Fulani-BI Calculted Expected Collections: Collections for December sales in December \$105,000 * 30% = \$ 84,000 Collections for November sales in December \$97,000 *15% = \$ 14,550 Collections for October sales in December \$92,000 * 5% = \$ 4,500 Total expected collections \$04,000 + \$14,550 + \$4,600 = \$103150 Expected Disbursements: Purchase oflnventory in November paid in December \$ 75,000 Operating Expenses for December paid same month \$ 2T,000 Purchase of Equipment in December paid same month 53 12,000 purchases are Amountborrowed in December = \$ 15.553 paid for in cash in the month they are incurred. Advantage Market has the following estimated data: October November December Sales \$92,000 \$97,000 \$105,000 Inventory Purchases \$59,000 \$35,000 \$90,000 Operating Expenses \$20,000 \$25,000 \$2?,000 Purchases of \$10,000 \$5,000 \$12,000 Equipment Payment ofdividends \$3,000 \$3,000 \$3,000 What is the amount ofmoneythat will need to be borrowed in December? Clo-so li-iastery'Testtotal points possible: 20 O Show my answer G) Show the correct answer Explanation -- D:sﬁﬁmusedﬂiazmossdmuimDaJmcodgm Wind xpﬁm ' — — n—n—n- Explanation of Correct Answer a; Internet E _ I'lidtib‘ UI Equlpll’lb‘l’ll III LJHCHHIUHI pulu tiidl'llb‘ HIUI'IlII ~11 |£,UUU .7 nent of December Dividends paid same month \$ 3,000 El, E; I expected disbursements \$75,000 + \$27,000 + \$12,000 + 03,000 = \$117.00 ass ofdisbursements over receipts = \$111000 - \$103,150 Based on thefdllowing assumptions, determir' _ ‘ 513-850 needs will befdrndvantage Market assumingtl ' ﬁnanc'ng “EBdS ending cash balance of\$5,000. Please assun = Excess ofdisbursements over receipts + Desired cash balance for all months was \$0 and thatBl = 511850 + \$5,000 collected during the month 0fsale, 15% in the the 2nd month alterthe sale. Septembersales Inventory purchases are paid for 100% in the n _ P P__ purchase. All other expenses including eouipmen purchases are I Amount borrows” '" December = \$ 15-53” I paid forin cash in the month they are incurred. Advantage Market has the following estimated data: \$92,000 \$97,000 \$105,000 InventoryPurchases \$09,000 \$?5,000 \$30,000 lOperating Expenses \$20,000 \$25,000 \$2?,000 Purchases of \$10,000 \$5,000 \$12,000 Equipment Payment dfdi'u'ldends \$3,000 \$3,000 \$3,000 What is the amount 0fm0neythatwil| need to be borrowed in December? Ir— _ _ O Show my answer ’— E I t, X Close ll-laeteryTeattotal points pcselble: 20 G) Show the correctanswer 1D 303 "3“ ...
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This note was uploaded on 03/26/2012 for the course AC505 A taught by Professor Agnor during the Spring '12 term at Keller Graduate School of Management.

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Week 4 Mod 4.2 Mastery_test George 2 - 02500411002.de Aug 1...

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