Question 1: Junior Snacks reports the following information from its sales budget:
Expected sales:
October $137,000
November 145,000
December 181,000
All sales are on credit and are expected to be collected 45% in the month of sale and 55% in the month following sale. The total amount of cash expected to be received from customers in November is:
- $140,600
- $75,350
- $145,000
- $220,350
- $65,250
Question 2: Cameroon Corp. manufacturing and sells electric staplers for $16.50 each. If 10,000 units were sold in December, and management forecasts 4.5% growth in sales each month, the number of units of electric stapler sales budgets for March should be:
- 10,000
- 11,411
- 10,450
- 10,920
- 11,050
Question 3: Southland Company is preparing a cash budget for August. The company has $17,900 cash at the beginning of August and anticipates $122,600 in cash receipt and $135,400 in cash payments during August Southland Company wants to maintain cash balance of $10,000. The preliminary cash balance at the end of August before any loan activity is:
- $15,100
- $140,500
- $12,800
- $5,100
- $27,900
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