# A+ Answers Of The Following Questions

1. A firm has beginning inventory of 300 units at a cost of \$11 each. Production during the period the was 650 units at \$12 each. If sales were 700 units, what is the cost of goods sold (assume FIFO)?

2. GS Cookie Co. forecasts cash receipts for January and February of \$9,000 and \$10,000, respectively. Cash Payments of \$4,000 and \$5,000 are expected these two months. GS Cookie’s cash balance at the beginning of January was \$5,000, a level that it attempts to maintain. At the beginning of the year. GS Cookie has a \$13,000 balance outstanding on its line of credit at the bank. Based on its cash budget, how much of the line of credit can GS Cookie repay by the end of February?

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3. If a firm has a break-even point of 20,000 units and the contribution margin on the firm’s single product is \$3.00 per unit and fixed costs are \$60,000, what will the firm’s net income be at sales of 30,000 units?

1. If a firm has a price of \$4.00, variable cost per unit of \$2.50 and a breakeven point of 20,000 units, fixed costs are equal to:

2. A firm has profits of \$10,000 on unit sales of 5,000 units. Fixed costs are \$30,000. What is the firm’s break-even sales level?

3. Tinbergen Cans expects sales next year to be \$30,000,000. Inventory and accounts receivable (combined) will increase \$4,000,000 to accommodate this sales level. The company has a profit margin of 10 percent and a 30 percent dividends payout. How much financing will the firm have to seek? Assume there is no increase in liabilities other than that which will occur with the external financing

1. Under normal conditions (70% probability), Financing Plan A will produce \$24,000 higher return than Plan B. Under tight money conditions (30% probability), Plan A will produce \$40,000 less than Plan B. what is the expected value of return for Plan A over Plan B?

2. Kuznets Rental Center requires \$1,000,000 in financing over the next two year. Kuznets can borrow long-term at 9 percent interest per year for two years. Alternatively, Kuznets can borrow short-term and pay 7 percent interest in the first year. Then, Kuznets projects paying

10 percent interest in the second year. Assuming Kuznets pays of the accrued interest at the end of each year, which of the following statement is true?

3. Hicks Health Clubs, Inc., has \$10,000,000 in assets. If it goes with a low liquidity plan for the assets if can earn a return of 15 percent, but with a high liquidity plan, the return will be 10 percent. If the firm goes with a short-term financing costs on the \$10,000,000 will be 8 percent, and with a long-term financing plan, the financing costs on the \$10,000,000 will be 9 percent. Compute the anticipated return after financing costs on the most conservative asset-financing mix.

1. The strong form of the efficient market hypothesis states that

2. The efficient market hypothesis deals primarily with

3. XYZ Co. has forecasted June sales of 600 units and July sales of 100 units. The company maintain ending inventory equal to 125% of next month’s sales. June beginning inventory reflects this policy. What is June’s required production?

1. Wiggles Right forecast sales of \$4,000 in January, \$6,000 in February and \$5,500 in March. All sales are on credit 40% is collected the month of sales and the remainder the following month. How much is collected from accounts receivable in February?

2. A firm has a debt asset ratio of 75%, \$240,000 in debt, and net income of \$48,000. Calculate return on equity.

3. A firm has forecasted sales of \$3,000 in April, \$4,500 in May and \$6,500 in June. All sales are on credit 30% is collected the month of sale and the remainder the following months what will be balance in accounts receivable at the beginning of July?

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