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rachel9

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The following information pertains to Monroe Company:

MonthSalesPurchases
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 sale40%
Month following the sale60%
 ∙  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


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Marked as best answer by rachel9 on Mar 6, 2021

bulacsom

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rachel9

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Reply 2 on: Mar 6, 2021
YES! Correct, THANKS for helping me on my review


komodo7

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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