--%>
Assignment Help - homework help

Problem on sales and budget

XYZ Farm Supply data regarding the store's operations follow:

• Sales are budgeted at $480,000 for November, $430,000 for December, and $340,000 for January.

• Collections are expected to be 65% in the month of sale, 35% in the month following the sale.

• The cost of goods sold is 77% of sales.

• The company purchases 52% of its merchandise in the month prior to the month of sale and 48% in the month of sale. Payment for merchandise is made in the month following the purchase.

• Monthly selling & administrative expenses to be paid in cash are $20,900.

• Monthly depreciation is $21,700.

• Ignore taxes.

The net income for December would be:

A) $37,300
B) $56,300
C) $51,700
D) $35,300

   Related Questions in Mathematics

  • Q : Problem on inventory merchandise AB

    AB Department Store expects to generate the following sales figures for the next three months:                            

    		•
  • Q : Who derived the Black–Scholes Equation

    Who derived the Black–Scholes Equation?

    		•
  • Q : First-order formulas over the

    Consider the unary relational symbols P and L, and the binary relational symbol On, where P(a) and I(a) encode that a is apoint and a (sraight) line in the 2-dimensional space, respectively, while On(a,b) encodes  that a is a point, b is a line, and o lies on b.

    		•
  • Q : Breakfast program if the average is

    if the average is 0.27 and we have $500 how much break fastest will we serve by 2 weeks

    		•
  • Q : Where would we be without stochastic

    Where would we be without stochastic or Ito^ calculus?

    		•
  • Q : Row-echelon matrix Determine into which

    Determine into which of the following 3 kinds (A), (B) and (C) the matrices (a) to (e) beneath can be categorized:       Type (A): The matrix is in both reduced row-echelon form and row-echelon form. Type (B): The matrix

    		•
  • Q : State Fermat algorithm The basic Fermat

    The basic Fermat algorithm is as follows: Assume that n is an odd positive integer. Set c = [√n] (`ceiling of √n '). Then we consider in turn the numbers c2 - n; (c+1)2 - n; (c+2)2 - n..... until a perfect square is found. If th

    		•
  • Q : What is Big-O hierarchy The big-O

    The big-O hierarchy: A few basic facts about the big-O behaviour of some familiar functions are very important. Let p(n) be a polynomial in n (of any degree). Then logbn is O(p(n)) and p(n) is O(an<

    		•
  • Q : Explain lognormal stochastic

    Explain lognormal stochastic differential equation for evolution of an asset.

    		•
  • Q : Problem on mass balance law Using the

    Using the mass balance law approach, write down a set of word equations to model the transport of lead concentration. A) Draw a compartmental model to represent  the diffusion of lead through the lungs and the bloodstream.

    		•