Macheski Company, an Importer and Retailer of Polish Pottery and Kitchenware

question 133

Multiple Choice

Macheski Company, an importer and retailer of Polish pottery and kitchenware, prepares a monthly master budget. Data for the July master budget are given below: The June 30th balance sheet follows: $$\begin{array}{l}\begin{array} { l l r } \text { Cash } & \$ 25,000 \text { Accounts payable } & \$ 45,000 \\\text { Accounts receivable } & 110,000 \text { Capital stock } & 300,000 \\\text { Inventory } & 54,000 \text { Retained earnings } & 94,000 \\\text { Buil ding and equipment (net) } & 250,000 &\end{array}\\\text { Actual sales for June and budgeted sales for July, August, and September are given below: }\\\begin{array} { l r } \text { June } & \$ 137,500 \\\text { July } & 360,000 \\\text { August } & 400,000 \\\text { September } & 320,000\end{array}\end{array}$$ Sales are 20 percent for cash and 80 percent on credit. All credit sales are collected in the month following the sale. There are no bad debts.
The gross margin percentage is 40 percent of sales. The desired ending inventory is equal to 25 percent of the following month's sales. One fourth of the purchases are paid for in the month of purchase and the others are purchased on account and paid in full the following month.
The monthly cash operating expenses are $43,000, and the monthly depreciation expenses are $7,000.
What is the balance of the accounts payable at the end of July?

• A)$55,500
• B)$93,000
• C)$120,000
• D)$166,500

Comprehend the criteria for applying binomial probability distribution in experiments.

Recognize the significance of the sum of probabilities in a probability distribution.

Understand the concept of a random variable as a numerical description of the outcome of an experiment.

Grasp the implications of dependent and independent trials in probability distributions.

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Definitions:

Time Pressures

The stress or urgency to complete tasks or make decisions within a limited timeframe.

Unreasonable Standards

Expectations or benchmarks that are excessively high, unrealistic, or unattainable.

Conflict Trigger

An event, situation, or communication that initiates or escalates a conflict between individuals or groups.

Communication Breakdowns

Failures in communication processes, resulting in misunderstandings, errors, or conflict.