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Author Question: The following information pertains to the January operating budget for Casey Corporation. Budgeted ... (Read 126 times)

big1devin

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The following information pertains to the January operating budget for Casey Corporation.

Budgeted sales for January $209,000 and February $109,000.
Collections for sales are 60% in the month of sale and 40% the next month.
Gross margin is 35% of sales.
Administrative costs are $10,000 each month.
Beginning accounts receivable is $25,000.
Beginning inventory is $23,000.
Beginning accounts payable is $72,000. (All from inventory purchases.)
Purchases are paid in full the following month.
Desired ending inventory is 20% of next month's cost of goods sold (COGS).
At the end of January, budgeted accounts receivable is ________.
◦ $43,600
◦ $83,600
◦ $125,400
◦ $165,800


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Marked as best answer by big1devin on Mar 6, 2021

Ksanderson1296

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big1devin

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Reply 2 on: Mar 6, 2021
:D TYSM


xoxo123

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Reply 3 on: Yesterday
Wow, this really help

 

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