Forecast Sales $200,000 $160,000 $180,000 $45,000 Jan Feb Mar Apr Balance Sheet Data December 31,2010 Cash $80,000 Account receivable: November sales 45000 December sales 50000 Inventory Account payable(merchandise) 54000 27000 Other data are as follows: • Sales • Cost of goods sold is 50% of sales • Other variables costs are 30% of sales paid in the month incurred • Inventories are to be 80% of next month's budgeted sales requirements • Fixed expenses are $15000 per month; all require cash • Credit time period for purchases are 30 days on credit with 60% of sales collected in the same month after sale ,40% in the second month after sale On basis of above information answer following questions Find Net Profit for the ended of March 2011?
Forecast Sales $200,000 $160,000 $180,000 $45,000 Jan Feb Mar Apr Balance Sheet Data December 31,2010 Cash $80,000 Account receivable: November sales 45000 December sales 50000 Inventory Account payable(merchandise) 54000 27000 Other data are as follows: • Sales • Cost of goods sold is 50% of sales • Other variables costs are 30% of sales paid in the month incurred • Inventories are to be 80% of next month's budgeted sales requirements • Fixed expenses are $15000 per month; all require cash • Credit time period for purchases are 30 days on credit with 60% of sales collected in the same month after sale ,40% in the second month after sale On basis of above information answer following questions Find Net Profit for the ended of March 2011?
Chapter15: Managing Short-term Assets
Section: Chapter Questions
Problem 2PROB
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