Rosewood Guitar, Inc. is preparing it cash receipts schedule for the 1^stquarter ending 20x1.  In doing so, its budget director prepared the following budgeted sales schedule:

Addition Information:

• Sales for the prior November and December 200x0 were $150,000 and $165,000, respectively.
• 55% of sales are for cash, the remaining 45% are credit sales.
  • Credit sales are collected as follows:
    • 15% in the month of sale
    • 65% in the month following the sale, and the remaining
    • 15% in the second month following the sale.
• The company estimates that the remainder of credit sales will be uncollectible.

Required

1. Prepare a cash receipts schedule for the first quarter of 20x1. (Please show your detailed schedule)
2. What is the total amount of uncollected accounts receivable for the 3-month period, January, February and March?
3. Briefly, provide the definition for the term “budgetary slack.”  Why does, budgetary slack occur?
4. What is the primary indication that “budgetary slack” is occurring?

Staci's Sign Shoppe makes signs for businesses. Staci is currently producing 210 signs per week with three employees. Staci hires an additional worker and total output per week rises to 292 signs. At four workers, marginal product is _____ the average product; thus, average product is _____.

below; rising

equal to; unchanged

above: falling

above; rising

Imagine Fry knew in advance that he would be frozen for 1000 years and wanted to have $9,999,999,999 when he thaws out. How much would Fry need to deposit in his account paying 2% APR compounded quarterly before falling into the cryogenic freezer?

A couple of boxes with different masses, 5.70 kg and 1.60 kg , hang 0.800 m above the floor from the ends of a cord 7.30 m long passing over a frictionless pulley. The boxes are released from rest with the heavy box falling and lifting up the light box.Find the maximum height above the floor reached by the 1.60 kg box.

1 Write down the expressions for centripetal force and angular momentum

2 What are the units of moment of inertia?

3 In Fig.1 show that the tension, T, in the string causing the pulley to rotate is given by

T = m(g-a)

where a is the linear acceleration of the falling mass.

4 In part III, what factors could cause the angular momentum not to be conserved?

Discuss the purpose of a budget and cost variance analysis. Why is it important for companies to create a budget then determine if they met budgeted costs? For example, is it always a negative variance if a company exceeds budgets? Give me an example of why a cost falling below expectations (actual cost below budgeted cost) may still be a problem even if it appears to increase profit.

Anicex Co. is growing quickly. Dividends are expected to grow at a rate of 20 percent for the next three years, with the growth rate falling off to a constant 5 percent thereafter. If the required return is 14 percent and the company just paid a dividend of $2.50, what is the current share price?

Options available:

a.$66.21

b.

$51.87

c.

$42.34

d.

$86.52

Beech Corporation is a merchandising company that is preparing a master budget for the third quarter of the calendar year. The company’s balance sheet as of June 30th is shown below:

Beech’s managers have made the following additional assumptions and estimates:

1. Estimated sales for July, August, September, and October will be $320,000, $340,000, $330,000, and $350,000, respectively.

2. All sales are on credit and all credit sales are collected. Each month’s credit sales are collected 35% in the month of sale and 65% in the month following the sale. All of the accounts receivable at June 30 will be collected in July.

3. Each month’s ending inventory must equal 25% of the cost of next month’s sales. The cost of goods sold is 70% of sales. The company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following the purchase. All of the accounts payable at June 30 will be paid in July.

4. Monthly selling and administrative expenses are always $40,000. Each month $6,000 of this total amount is depreciation expense and the remaining $34,000 relates to expenses that are paid in the month they are incurred.

5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30.

Required:

1. Prepare a schedule of expected cash collections for July, August, and September.

2-a. Prepare a merchandise purchases budget for July, August, and September. Also compute total merchandise purchases for the quarter ended September 30.

2-b. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September.

3. Prepare an income statement that computes net operating income for the quarter ended September 30.

4. Prepare a balance sheet as of September 30.

Prepare a balance sheet as of September 30.