Finch Company Began Its Operations on March 31 of the Current

question 110

Multiple Choice

Finch Company began its operations on March 31 of the current year. Finch Co. has the following projected costs:
(1) 3/4 of the manufacturing costs are paid for in the month they are incurred. 1/4 is paid in the following month.
(2) Insurance expense is $1,000 a month, however, the insurance is paid four times yearly in the first month of the quarter, i.e. January, April, July, and October.
(3) Property tax is paid once a year in November.
The cash payments for Finch Company in the month of May are:

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Definitions:

Mass Society Theory

A sociological perspective that suggests society is integrated by a shared mass culture, often influenced by media, and marked by a loss of individuality.

Émile Durkheim

A founding figure in sociology, Durkheim is known for his exploration of social phenomena including the study of social cohesion and the role of religion in society.

Collectivity

A substantial number of people who join together on the basis of loosely defined norms.

Sociologists

Experts or scientists who study societies, examining the structures, systems, and dynamics of human interaction and social behavior.