Question

Russell Company expects cash sales for July of $20,000, and a 24% monthly increase during August and September. Credit sales of $15,000 in July should be followed by 11% decreases during August and September. What are budgeted cash sales and budgeted credit sales for September? (Round final answers to the nearest dollar.)

	$17,800 and $18,600
	$24,800 and $13,350
	$15,842 and $23,064
	$30,752 and $11,882

Question

2 of 25

Everyone Deserves to Smile mobile dentist office budgeted for 4,320 patient visits a year. Everyone Deserves to Smile actually saw 4,445 patients during the year and they have provided the following data:

	Fixed Portion for Budget	Variable Portion per Patient Visit for Budget	Actual Results
Revenue		$70	$406,700
Personnel Expenses	$60,000		$63,000
Medical Supplies		$10	$38,200
Occupancy Expenses	$12,000	$1.50	$19,000
Admin Expenses	$19,000	$0.50	$20,000

Based on the given information, what is the flexible budget variance for personnel expenses?

	$3,000 unfavorable
	Cannot be determined
	$0
	$3,000 favorable

Question

3 of 25

Everyone Deserves to Smile mobile dentist office budgeted for 4,355 patient visits a year. Everyone Deserves to Smile actually saw 4,500 patients during the year, and they have provided the following data:

	Fixed Portion for Budget	Variable Portion per Patient Visit for Budget	Actual Results
Revenue		$71	$410,800
Personnel Expenses	$70,000		$68,000
Medical Supplies		$10	$38,400
Occupancy Expenses	$9,000	$1.50	$19,000
Admin Expenses	$18,000	$0.75	$19,850

Based on the given information, what is the flexible budget variance for revenue?

	$91,300 Favorable
	$91,300 Unfavorable
	$10,295 Favorable
	$10,295 Unfavorable

Question

4 of 25

Sharon Corporation collects 10% in the second month following sale, 40% in the month following sale, and 40% of a month's sales in the month of sale. The company has found that 10% of their sales are uncollectible. Budgeted sales for the upcoming four months are:

August budgeted sales	$280,000
September budgeted sales	$350,000
October budgeted sales	$380,000
November budgeted sales	$240,000

The amount of cash that will be collected in November is budgeted to be

	$316,000
	$96,000
	$283,000
	$216,000

Question

5 of 25

Perry Enterprises purchased a new machine with a total cost of $31,350 and a useful life of 4 years. The machine will produce net cash inflows of $7,900 over its useful life and has a residual value of $2,040. What is the payback period for the new machine?

	3.97 years
	2.97 years
	3.71 years
	5.35 years

Answer 1

Each question is answered seperately:

1.

26 000 budgptod Salo 430,752 4 15,D0D 13350 三 11 882 will xemaim 60,.000 awia 3000

2

Date oni uaible blu ou y500 patient we aue takinaV500 Actual Reuen budgct 91300 kasoralle

3.

Date Yean 1SS0D 1900 190D 그gDD 2 3 0/ 31,350 as betwen Cumulatiwe Value year GOp tini Para 31350 2310D 3160D- 23700 ろ 1900