Tiny Toons Distributes Cartoon DVDs That Sell for $12 Each

question 118

Multiple Choice

Tiny Toons distributes cartoon DVDs that sell for $12 each. Tiny Toons pays $7 per DVD to buy the product. Selling costs of $1 per unit are incurred to deliver the DVDs to the customer. This is paid in cash when the product is sold. Tiny Toons has $50,000 per month in fixed selling and administrative expenses (including $3,000 in depreciation) , which are paid half in the month incurred and half in the next month. It is Tiny's policy to maintain an inventory at the end of each month equal to 30% of the next month's projected unit sales.
Tiny Toons makes 30% of sales in cash, and the remainder are on credit. Credit sales are collected in the month after sale. Budgeted monthly sales for the first five months of 2014 are: $$\begin{array} { l l } \text { January } & 20,000 \text { units } \\\text { February } & 22,000 \text { units } \\\text { March } & 26,000 \text { units } \\\text { April } & 28,000 \text { units } \\\text { May } & 40,000 \text { units }\end{array}$$
How much are budgeted cash receipts for February?

• A) $22,000
• B) $79,200
• C) $264,000
• D) $247,200

Analyze plant growth and florogenesis in response to environmental stimuli.

Describe the roles of different hormones and molecules in plant growth and development.

Utilize practical knowledge of photoperiodic adjustments for horticulture applications.

Explain the genetic and molecular basis of flowering.

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Definitions:

Personal Income Tax

A tax levied by government on individuals or households based on their total yearly income from all sources.

Consortium

A group of companies or institutions formed to undertake an enterprise or project together, often pooling resources for a common goal.

Market Advantage

Market advantage refers to a strategic edge one company holds over competitors within its industry or market, often leading to stronger sales or brand loyalty.

Corporation

A legal entity that is separate and distinct from its owners, who are shareholders, and is recognized as such by law with rights and liabilities that are distinct from those of its members.