Top Posters
Since Sunday
r
4
L
4
3
d
3
M
3
l
3
V
3
s
3
d
3
a
3
g
3
j
3
Home Q & A Board Other Fields Homework Help Business Management
New Topic  
ejones3535 ejones3535
wrote...
Go to Answer
Posts: 303
Rep: 0 0
6 years ago
The following information pertains to Monroe Company:

MonthSalesPurchases
January$67,000$32,000
February$88,000$45,000
March$100,000$58,000

Cash is collected from customers in the following manner:
Month of sale30%
Month following the sale70%
40% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.
Labor costs are 20% of sales. Other operating costs are $37,000 per month (including $8,000 of depreciation). Both of these are paid in the month incurred.
The cash balance on March 1 is $10,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000.

How much cash will be collected from customers in March?
A) $96,400
B) $91,600
C) $100,000
D) $118,000
Textbook 
Cost Accounting: A Managerial Emphasis

Cost Accounting: A Managerial Emphasis


Edition: 16th
Authors:
Read 67 times
2 Replies
Replies
Answer verified by a subject expert
anonymous661anonymous661
wrote...
#1
Posts: 168
Rep: 37 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here

Related Topics

ejones3535 Author
wrote...
#2
6 years ago
Smart ... Thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1357 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 652
  
 172
  
 3935
Your Opinion
What percentage of nature vs. nurture dictates human intelligence?
Votes: 436
Previous poll results: Who will win the 2024 president election?