Answer the Following Questions Using the Information Below

question 52

Multiple Choice

Answer the following questions using the information below:
The following information pertains to the January operating budget for Canberra Corporation.
∙ Budgeted sales for January $100 000 and for February $200 000.
∙ Collections for sales are 70% in the month of sale and 30% the next month.
∙ Gross margin is 30% of sales.
∙ Administrative costs are $10 000 each month.
∙ Beginning accounts receivable is $20 000.
∙ Beginning inventory is $14 000.
∙ Beginning accounts payable is $60 000.(All from inventory purchases. )
∙ Purchases are paid in full the following month.
∙ Desired ending inventory is 20% of next month's cost of goods sold (COGS) .
-At the end of January,budgeted ending inventory is:

• A)$40 000.
• B)$28 000.
• C)$20 000.
• D)None of these answers are correct.

Learn about historical legislative additions impacting communications.

Understand efforts to curb government spending on communications.

Appreciate the role of social media and direct contact in political and organizational communications.

Understand the factors that may prolong or expedite the decision-making process.

---

Definitions:

General Partnerships

A business partnership in which all partners share unlimited personal liability for the debts and obligations of the business and share in the profits and losses according to their agreement.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water.

Finance

The management of large amounts of money, especially by governments or large companies, including activities such as investing, borrowing, lending, budgeting, and saving.

RUPA

The Revised Uniform Partnership Act (RUPA) is a set of laws adopted by many states in the United States to govern the formation, operation, and dissolution of partnerships.