Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
Sales are budgeted at 5290,000 for November, 5310,000 for December, and 5300,000 for January. Collections are expected to be 40% in the month of sale, 59% in the month following the sale, and 1% uncollectible. The cost of goods sold is 75% of sales. The company would like to maintain ending merchandise inventories equal to 65% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchas Other monthly expenses to be paid in cash are $22,600. Monthly depreciation is $20,500. Ignore taxes.
Expected cash collections in December are: Multiple Choice:
a. $310,000
b. $295,100
c. $171,100
d. 5124,000
Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $440,000 for November, $460,000 for December, and $460,000 for January. • Collections are expected to be 85% in the month of sale, 14% in the month following the sale, and 1% uncollectible. • The cost of goods sold is 80% of sales. • The company would like to maintain ending merchandise inventories equal to 70% of the next...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $340,000 for November, $320,000 for December, and $310,000 for January. Collections are expected to be 80% in the month of sale and 20% in the month following the sale. The cost of goods sold is 75% of sales. The company would like to maintain ending merchandise inventories equal to 60% of the next month's cost of goods sold. Payment for...
Bracken Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $380,000 for November, $400,000 for December, and $400,000 for January • Collections are expected to be 80% In the month of sale, 19% In the month following the sale, and 1% uncollectible. • The cost of goods sold Is 75% of sales. • The company would like to maintain ending merchandise Inventories equal to 65% of the next month's...
Bracken Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $250,000 for November, $260,000 for December, and $260,000 for January. • Collections are expected to be 75% in the month of sale, 24% in the month following the sale, and 1% uncollectible. • The cost of goods sold is 80% of sales. • The company would like to maintain ending merchandise inventories equal to 70% of the next...
Brarin Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $450,000 for November, $470,000 for December, and $470,000 for January. • Collections are expected to be 80% in the month of sale, 18% in the month following the sale, and 2% uncollectible. • The cost of goods sold is 75% of sales. • The company would like to maintain ending merchandise inventories equal to 65% of the next...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $440,000 for November, $420,000 for December, and $410,000 for January. Collections are expected to be 65% in the month of sale and 35% in the month following the sale. The cost of goods sold is 80% of sales. The company would like to maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: • Sales are budgeted at $310,000 for November, $290,000 for December, and $280,000 for January. • Collections are expected to be 60% in the month of sale and 40% in the month following the sale. • The cost of goods sold is 65% of sales. The company would like to maintain ending merchandise inventories equal to 55% of the next month's cost of goods...
Bracken Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: o Sales are budgeted at $462,000 for November, $348,000 for December, and $380,000 for January. o Collections are expected to be 80% in the month of sale, 17% in the month following the sale, and 3% uncollectible. o The cost of goods sold is 85% of sales. o The company would like to maintain ending merchandise inventories equal to 70% of the next month's...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $210,000 for November, $190,000 for December, and $180,000 for January. Collections are expected to be 50% in the month of sale and 50% in the month following the sale. The cost of goods sold is 55% of sales. The company would like to maintain ending merchandise inventories equal to 45% of the next month's cost of goods sold. Payment for...
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow: Sales are budgeted at $390,000 for November, $370,000 for December, and $360,000 for January. Collections are expected to be 40% in the month of sale and 60% in the month following the sale. The cost of goods sold is 80% of sales. The company would like maintain ending merchandise inventories equal to 70% of the next month's cost of goods sold. Payment for merchandise...