FIN160 (BUDGETING)

1. D
2. B
3. D
4. A
5. D
6. B
7. C

JUNE JULY AUGUST

260,000 270,000 300,000

x 20% x .70%

54,000 + 210,000 = 264,000

8. C
10,000 x .3 = 3,000
8,000 x .7 = 2,740
9,000 x .2 = 3,465
8,705
9. B
Oct. 90,000 x .95 = 85,500
Nov. 00,000 x .85 = 85,000
Dec. 85,000 x .7 = 59,500
230,000
10. D
May JUNE JULY
1,500 1,000 1,950
3,300 3,750 4,350
(1,800) (1,950) (2,400)
11. A
Beg. 14,000 Beg. 44,000
Bud. 22,000 pur. 92,000
End (12,000) end (48,000)
Sales 24,000 8,000
12. B
Beg. (inv.) 11,250 (75,000 x .25) x .6
Purchase 45,750
End (12,000) (80,000 x.25) x.6
45,000

13. D
Beg. In. 70,000
 Pur. 1,055,000
End, 0____
COGS 1,125,000
_____ _ AP _______
1,175,000 0
1,055,000
_____________________
120,000
14. B
340,000 + 9 (20,000)
= 520,000
(440,000)
30,000 F
15. A