The following information pertains to Monroe Company: ...

[rachel9]

The following information pertains to Monroe Company:

Month

Sales

Purchases

January

$62,000

$33,000

February

$84,000

$42,000

March

$101,000

$61,000

 ∙  Cash is collected from customers in the following manner:

Month of sale

40%

Month following the sale

60%

 ∙  45% of purchases are paid for in cash in the month of purchase, and the balance is paid the following month.
 ∙  Labor costs are 30% of sales. Other operating costs are $38,000 per month (including $10,000 of depreciation). Both of these are paid in the month incurred.
 ∙  The cash balance on March 1 is $8,000. A minimum cash balance of $6,000 is required at the end of the month. Money can be borrowed in multiples of $1,000.

How much cash will be disbursed in total in March?
◦ $58,300
◦ $68,300
◦ $108,850
◦ $118,850

[bulacsom]

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[rachel9]

Thanks for the timely response, appreciate it

[marict]

Wow, this really help