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Rokosz Corporation Makes One Product and It Provided the Following

question 195

Multiple Choice

Rokosz Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $104. Budgeted unit sales for October, November, December, and January are 6,900, 7,100, 11,300, and 15,300 units, respectively. All sales are on credit.
B. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month.
C. The ending finished goods inventory equals 20% of the following month's sales.
D. The ending raw materials inventory equals 30% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.00 per pound.
E. The direct labor wage rate is $23.00 per hour. Each unit of finished goods requires 2.5 direct labor-hours.
The expected cash collections for November is closest to:

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Definitions:

Past Practice

A term used in labor relations to refer to a customary practice that, over time, has become an accepted way of doing things despite not being formally written into a contract.

Arbitrators

Neutral third parties chosen to settle disputes outside of court, whose decisions are typically binding.

Arbitration Case

A legal dispute that is resolved outside of court by an arbitrator, whose decision is typically binding on both parties.

Turnover

The rate at which employees leave a business and are replaced by new employees, which can affect organizational performance and continuity.