Fuson Corporation Makes One Product and Has Provided the Following

question 174

Multiple Choice

Fuson Corporation makes one product and has provided the following information to help prepare the master budget for the next four months of operations: Credit sales are collected:30% in the month of the sale70% in the following monthRaw materials purchases are paid:30% in the month of purchase70% in the following monthThe ending finished goods inventory should equal 10% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.The budgeted accounts receivable balance at the end of November is closest to:

• A) $795,000
• B) $357,540
• C) $1,191,800
• D) $834,260

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Definitions:

Misrepresentation

The act of falsely or misleadingly presenting facts or information.

Moral Development

The process through which individuals develop proper attitudes and behaviors towards other people in society, based on social and cultural norms, laws, and personal beliefs.

Exclusive Dealership

A business arrangement wherein a retailer or distributor is the only authorized seller of a specific brand or product in a designated area.

Moonlighting

The practice of holding an additional job or jobs, often at night, in addition to one's main job, usually to earn extra income.