Use the Following Information for Questions

question 148

Multiple Choice

Use the following information for questions
At January 1, 2012, Jake, Inc.has beginning inventory of 4,000 surfboards.Jake estimates it will sell 15,000 units during the first quarter of 2012 with a 10% increase in sales each quarter.Jake's policy is to maintain an ending inventory equal to 25% of the next quarter's sales.Each surfboard costs $200 and is sold for $250.
-How much is budgeted sales revenue for the third quarter of 2012?

• A)$18,150
• B)$4,537,500
• C)$907,500
• D)$3,750,000

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Definitions:

Commission

A fee or percentage of a sale paid to a salesperson, broker, agent, or other individual for their services in facilitating a transaction.

Material Safety Data Sheets

Documents that provide information on the properties of chemical products regarding their hazards, handling, and safety measures.

Policy And Procedures Manual

A comprehensive document outlining the guidelines, practices, and standards of an organization or institution.

Continuing Education

Systematic professional learning experiences designed to augment knowledge and skills of healthcare professionals; education completed after the initial educational program; required for relicensure in some fields.