Answer the Following Questions Using the Information Below:
Wallace Company

question 1

Multiple Choice

Answer the following questions using the information below:
Wallace Company provides the following data for next year:
$$\begin{array} { l c } \text { Month } & \text { Budgeted Sales } \\\text { January } & \$ 120,000 \\\text { February } & 108,000 \\\text { March } & 132,000 \\\text { April } & 144,000\end{array}$$ The gross profit rate is 35% of sales. Inventory at the end of December is $21,600 and target ending inventory levels are 20% of next month's sales, stated at cost.
-What is the amount of purchases budgeted for February?

• A) $32,214
• B) $70,200
• C) $73,320
• D) $95,160

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Definitions:

Situational Factors

Elements that influence the effectiveness of a particular leadership style or management approach, depending on the context or environment.

Charisma

A personal quality that gives an individual influence or authority over large numbers of people, often associated with captivating and compelling leaders.

Trait Approach

An approach in psychology and leadership studies that suggests certain individual characteristics and qualities can make effective leaders.

Trait

A characteristic or quality that defines an individual and influences their behavior or attitudes.