As of January 1 of the Current Year,the Grackle Company

question 61

Multiple Choice

As of January 1 of the current year,the Grackle Company had accounts receivables of $50,000.The sales for January,February,and March were as follows: $120,000,$140,000,and $150,000,respectively.Of each month's sales,20% are for cash.Of the remaining 80% (the credit sales) ,60% are collected in the month of sale,with the remaining 40% collected in the following month.What is the total cash collected (both from accounts receivable and cash sales) in the month of March?

• A) $74,800
• B) $146,800
• C) $102,000
• D) $116,800

Familiarize with the different types of employment tests and their applications.

Understand the concept of average total cost and its significance in the short run and long run.

Calculate and interpret the marginal product of labor.

Identify and calculate fixed and variable production costs.

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