Bonkowski Corporation Makes One Product and Has Provided the Following

question 214

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 budgeted accounts receivable balance at the end of February is closest to:

• A) $349,200
• B) $814,800
• C) $776,000
• D) $1,164,000

---

Definitions:

Alleles

Alternate forms of a single gene.

Primates

An order of mammals that includes humans, monkeys, and apes, characterized by large brains, forward-facing eyes, and dexterous hands.

Meiosis

A kind of cell division that produces the sex cells, each of which has half the number of chromosomes found in other cells of the organism.