The Following Information Pertains to Monroe Company

question 217

Multiple Choice

The following information pertains to Monroe Company:

-Cash is collected from customers in the following manner:
Month of sale40%
Month following the sale60%
-45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.
-Labor costs are 30% of sales. Other operating costs are $38,000 per month (including $10,000 of depreciation) . Both of these are paid in the month incurred.
-The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000.
How much cash will be disbursed in total in March?

• A) $58,300
• B) $68,300
• C) $108,850
• D) $118,850

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