Carpon Lumber Sells Lumber and General Building Supplies to Building

question 17

Multiple Choice

Carpon Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regarding the store's operations follow:

• Sales are budgeted at $340,000 for November, $350,000 for December, and $370,000 for January.
• Collections are expected to be 55% in the month of sale, 44% in the month following the sale, and 1% uncollectible.
• The cost of goods sold is 75% of sales.
• The company desires to have an ending merchandise inventory equal to 60% of the next month's cost of goods sold. Payment for merchandise is made in the month following the purchase.
• Other monthly expenses to be paid in cash are $21,100.
• Monthly depreciation is $19,000.
• Ignore taxes.

-Accounts payable at the end of December would be:

• A)$271,500
• B)$105,000
• C)$166,500
• D)$262,500

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Definitions:

Identification

In Freudian theory, the process by which a young child adopts characteristics, beliefs, attitudes, values, and behaviors of the parent of the same sex.

Gender Awareness

Recognition and understanding of the differences in gender and the social roles associated with gender.

Penis Envy

A controversial concept in Freudian psychoanalytic theory that suggests the female child experiences anxiety upon realizing she does not have a penis.

Gender Through Identification

A psychological process wherein an individual identifies with the gender roles and characteristics deemed appropriate in their culture, often influenced by parents and societal expectations.