all w Xn Grades: View+ttempt=2362118&cmid= 1898381&page=1#question-2623465-13%3DCOVID-19FACULTYClear my choiceBramble 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 maintain ending merchandise inventories equal to 55% of the next month's cost of goods sold. Payment formerchandise is made in the month following the purchase.Other monthly expenses to be paid in cash are $23,700.Monthly depreciation is $14,700.Ignore taxes.Balance SheetOctober 31Assets21,500Cash71,500Accounts receivable110.825Merchandise inventory1,095.500Property, plant and equipment, net of $573,500 accumulated depreciationTotal assets1.299.325Liabilities and Stockholders' Equity255.500Accounts payable821,500Common stock222.325Retained earnings1299.325Total liabilities and stockholders' equityDecember cash disbursements for merchandise purchases would be:Select one:O A. $100,100O B. $194,350O C. $184,925O D. $188,500The manufacturing overhead budget at Polich Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 900labor-hours will be required in February. The variable overhead rate is $8.90 per direct labor-hour. The company's budgeted fixed manufacturingoverhead is $116,100 per month, which includes depreciation of $18,260. All other fixed manufacturing overhead costs represent current cashiDELL

Preparation of Purchase budget helps the business entity in determining how much quantity of…

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 maintain ending merchandise inventories equal to 55% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $23,700. Monthly depreciation is $14,700. Ignore taxes. Balance Sheet October 31 Assets 21,500 Cash 71,500 Accounts receivable 110.025 Merchandise inventory 1,095.500 Property, plant and equipment, net of s573,500 accumulated depreciation Total assets 2. 1.299 325 Liabilities and Stockholders' Equity 255.500 Accounts payable 821,500 Common stock 222,325 Retained earnings 1.299.325 Total liabilities and stockholders' equity December cash disbursements for merchandise purchases would be: Select one: O A. $100,100 O B. $194,350 O C. $184,925 O D. $188,500

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 maintain ending merchandise inventories equal to 55% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase. Other monthly expenses to be paid in cash are $23,700. Monthly depreciation is $14,700. Ignore taxes. Balance Sheet October 31 Assets 21,500 Cash 71,500 Accounts receivable 110.025 Merchandise inventory 1,095.500 Property, plant and equipment, net of s573,500 accumulated depreciation Total assets 2. 1.299 325 Liabilities and Stockholders' Equity 255.500 Accounts payable 821,500 Common stock 222,325 Retained earnings 1.299.325 Total liabilities and stockholders' equity December cash disbursements for merchandise purchases would be: Select one: O A. $100,100 O B. $194,350 O C. $184,925 O D. $188,500

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter15: Managing Short-term Assets

Section: Chapter Questions

Problem 16PROB

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