1) ABC Company has projected Sales of $4,210 in January. The sales are expected to grow by 8% each month. ABC's collection schedule is as follows: ABC collects 74 percent of its sales in the month of sale and the remainder is collected in the following month. What is the amount of the February cash collections? Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.
2) ABC Company sells 3,376 chairs a year at an average price per chair of $157. The carrying cost per unit is $16.25. The company orders 235 chairs at a time and has a fixed order cost of $90.2 per order. The chairs are sold out before they are restocked. What are the total carrying costs? Enter your answer rounded off to two decimal points. Do not enter comma or $ in the answer box. For example, if your answer is 12.345 then enter as 12.35 in the answer box.