Answer the Following Questions Using the Information Below

question 147

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) .
-For January,budgeted cash collections are:

• A)$60 000.
• B)$20 000.
• C)$90 000.
• D)None of these answers are correct.

Identify free and beneficial resources for job search tips.

Learn effective strategies for job-hunting and how to improve resumes through advice.

Discover the importance of self-assessment and research in identifying employer priorities and staying current in one's field.

Understand the concept of mental models and their impact on perception and behavior.

---

Definitions:

Cochlea

A spiral-shaped, fluid-filled inner ear structure that is essential for hearing as it transfers sound vibrations to nerve impulses.

Vestibule

An entrance or enclosed area just inside the entrance of a building, or, in anatomy, a cavity, chamber, or channel opening into another cavity, especially of the ear, nose, or mouth.

Romberg Test

A neurological test that assesses the sense of balance and proprioception, wherein an individual is asked to stand with feet together and eyes closed to detect problems in the vestibular or proprioceptive systems.

Vestibular Apparatus

A complex system within the inner ear that provides information about spatial orientation and balance.