Michael Company Has a Sales Budget for Next Month of $300,000.Cost

question 92

Multiple Choice

Michael Company has a sales budget for next month of $300,000.Cost of goods sold is expected to be 50% of sales.All units are paid for in the month following purchase.The beginning inventory is $10,000 and an ending inventory of $12,000 is desired.Beginning accounts payable is $76,000.The purchases for next month are ________.

• A) $138,000
• B) $140,000
• C) $150,000
• D) $152,000

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Definitions:

Risk

The probability of an adverse event happening, affecting an individual's health, safety, or success.

Population

The total number of individuals inhabiting a particular area or forming a particular group.

Cortisol

A steroid hormone produced by the adrenal glands, often referred to as the "stress hormone" because its levels increase in response to stress.

Norepinephrine

A neurotransmitter and hormone important in the body’s response to stress and for regulating mood, attention, and vigilance.