Bonkowski Corporation Makes One Product and Has Provided the Following

question 46

Multiple Choice

Bonkowski 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 sale
70% in the following month
Raw materials purchases are paid:
30% in the month of purchase
70% in the following month
The ending finished goods inventory should equal 30% of the following month's sales. The ending raw materials inventory should equal 10% of the following month's raw materials production needs.
-The expected cash collections for February is closest to:

• A) $970,000
• B) $1,028,200
• C) $349,200
• D) $679,000

Identify the characteristics and functions of operating systems.

Understand the role and impact of electronic spreadsheets in decision making and data analysis.

Learn about the importance and methods of disaster recovery planning in businesses.

Recognize the significance of secure networks and data transmission methods within and outside an organization.

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Definitions:

Invoice

A document from a seller requesting payment from the buyer; the supplier’s bill.

Mexican Peso

The currency of Mexico, symbolized as MXN, and used in financial transactions within the country.

U.S. Dollars

The official currency of the United States, widely used in international transactions.

Currency Exchange Rates

The rate at which one currency can be exchanged for another.