Just need #9 answered. 8) Cooke Company incurs $4 per unit of variable selling...
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Accounting
Just need #9 answered.
8) Cooke Company incurs $4 per unit of variable selling and administrative expense and $50,000 per month in fixed selling and administrative expense. Of the fixed expense, $12,000 relates to depreciation each month. Selling and administrative expense is paid in the month incurred. During February 2011, Cooke produced 50,000 units and sold 48,000 units. What amount would Cooke include for selling and administrative expense on its February income statement? a. $250,000 b. $238,000 c. $242,000 d. $230,000 9) Letestu Company has a beginning cash balance on January 1, 2011 of $10,000. Cash collected in January is $100,000 and sales revenue in January is $108,000. Expected disbursements for January for inventory purchases are $45,000 and for selling and administrative expenses are $62,000. Additionally, a dividend payment of $5,000 will be made in January. Letestu maintains a minimum cash balance of $5,000. How much cash will Letestu need to borrow in January in order to meet the minimum balance requirement? a. $0 b. $19,000 C. $7,000 d. $17,000
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