1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Talja [164]
3 years ago
12

Multiple Choice Question 104 Sheffield Corp. estimates its sales at 270000 units in the first quarter and that sales will increa

se by 11000 units each quarter over the year. They have, and desire, a 25% ending inventory of finished goods. Each unit sells for $25. 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale. Cash collections for the third quarter are budgeted at
Business
1 answer:
makvit [3.9K]3 years ago
3 0

Answer:

$7,250,500

Explanation:

Given that 40% of the sales are for cash. 70% of the credit customers pay within the quarter. The remainder is received in the quarter following sale, it means that cash collection for third quarter per budget will comprise;

  • 40% sales for the 3rd quarter
  • 70% of 60% sales in the 3rd quarter and
  • 30% of 60% sales in the 2nd quarter

Furthermore, if  estimated sales for first quarter is 270000 units and sales will increase by 11000 units each quarter over the year then,

2nd quarter sales

= 270,000 + 11,000

= 281,000 units

3rd quarter sales

= 281,000 + 11,000

= 292,000 units

and Each unit sells for $25

Hence , Cash collections for the third quarter are budgeted

= $25 * 40% * 292,000 + $25 * 70% * 60% * 292,000 + $25 * 30% * 60% * 281000

= $2,920,000 + $3,066,000 + $1,264,500

= $7,250,500

You might be interested in
Which of the following statements is true of absorption​ costing? A. It considers variable selling and administrative costs as p
Sonja [21]

Answer:

C. It considers fixed manufacturing overhead cost as product costs.

Explanation:

The statement that is true of absorption​ costing is that it considers fixed manufacturing overhead cost as product costs.

Absorption costing uses the concept of cost drivers to ascertain the quantum of fixed manufacturing overhead cost a product generates, and ties that fraction to the product as its own cost.

By so doing, what would ordinarily have been periodic costs that will be apportioned among products become fixed costs that are directly traceable to those products.

6 0
3 years ago
When business writers request information or action that will likely be received positively, they should frontload their message
Scorpion4ik [409]
<span>This requires that the most significant or important statements be placed first, so as to make sure that the audience receives it before anything else. By doing this, the primacy effect will be experienced: the first information the listener or reader perceives will be what is remembered most. This means that the positive information will be remembered, and anything in the middle of the notice will likely be forgotten.</span>
6 0
3 years ago
A car dealer who sells only late-model luxury cars recently hired a new salesman and believes that this salesman is selling at l
Natasha2012 [34]

Answer:

t=\frac{5000-5600}{\frac{800}{\sqrt{16}}}=-3      

Explanation:

Data given and notation      

\bar X=5000 represent the sample mean      

s=800 represent the standard deviation for the sample      

n=16 sample size      

\mu_o =5600 represent the value that we want to test    

\alpha represent the significance level for the hypothesis test.    

t would represent the statistic (variable of interest)      

p_v represent the p value for the test (variable of interest)  

State the null and alternative hypotheses.      

We need to conduct a hypothesis in order to determine if the mean is lower than 5600, the system of hypothesis would be:      

Null hypothesis:\mu \geq 5600      

Alternative hypothesis:\mu < 5600      

We don't know the population deviation, so for this case is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:      

t=\frac{\bar X-\mu_o}{\frac{s}{\sqrt{n}}} (1)      

t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".  

Calculate the statistic      

We can replace in formula (1) the info given like this:      

t=\frac{5000-5600}{\frac{800}{\sqrt{16}}}=-3      

4 0
3 years ago
O pré-diagnóstico é a primeira etapa para a implementação de um planejamento estratégico. É possível identificar nesta etapa se
sineoko [7]

Answer:

homework sucks, like, really

Explanation:

8 0
3 years ago
Which of the following students is most likely to receive a merit based scholarship?
bonufazy [111]
A student with a high academic score
8 0
4 years ago
Read 2 more answers
Other questions:
  • A/an _______ is a mathematical statement that calculates a value. A. argument B. function C. order of operations D. formula?
    14·1 answer
  • A customer pays a purchase price of $1,375 for a bond. This purchase price could also be referred to as​
    8·1 answer
  • On June 30, 2020, Mischa Auer Company issued $4,000,000 face value of 13%, 20-year bonds at $4,300,918, a yield of 12%. Auer use
    14·1 answer
  • __________ would use the present value of an annuity due for which of the following transactions?
    14·1 answer
  • Yuki was just hired as a financial analyst and will spend the next two weeks learning company policies, procedures, and culture
    8·1 answer
  • A company pays all selling expenses in the month incurred. Budget information includes: Administrative salaries: $50,000; Sales
    7·1 answer
  • Hygfgfngfjgfjggfjffgfjgfjfgtjdftr6j
    11·2 answers
  • Sales $ 100,000 Operating expenses $ 94,000 Operating assets $ 40,000 Stockholder's equity $ 25,000 Cost of capital 10 % What is
    13·1 answer
  • Most economists believe the principle of monetary neutrality is a. relevant to both the short and long run. b. mostly relevant t
    6·1 answer
  • the pool of free labor grew during the post-revolutionary period. identify the reasons for this growth.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!