Dahl Manufacturing Is Making Its Operating Budget for the 4^th

question 17

Multiple Choice

Dahl Manufacturing is making its operating budget for the 4^th quarter of 2012. Sales are forecast at $60,000 in October, $65,000 in November, and $70,000 in December. Cost of goods sold it 40% of sales. Expenses are budgeted as follows:
$$\begin{array} { l l l } \text { Variable: } & \text { Miscellaneous: } & 5 \% \text { of sales } \\\text { Fixed: } & \text { Salary expense: } & \$ 12,600 \text { per month } \\& \text { Rent expense: } & \$ 5,200 \text { per month } \\& \text { Depreciation expense: } & \$ 4,000 \text { per month } \\& \text { Admin expense: } & \$ 5,000 \text { per month }\end{array}$$
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How much are the total operating expenses in November?

• A) $29,800
• B) $30,300
• C) $30,050
• D) $29,990

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Definitions:

Liquidity

The ability of an asset to be quickly converted into cash without significantly affecting its price.

Default Risk

The possibility that a borrower will fail to meet the obligations of a loan agreement.

Interest Rate Risk Premiums

Additional returns demanded by investors to compensate for the risk of fluctuating interest rates.

D Credit Rating

A rating indicating that an entity is in default, having failed to fulfill its credit obligations, the lowest possible rating in assessments of credit risk.