Problem Set 1

777 words, 4 pages

Intro Sample...


Exp. (5% of sales)
9,500
10,500
11,500
Overhead
12,000
12,000
12,000
Taxes

20,000
Dividends

16,000
Total Cash Payments
$154,500
$169,500
$220,500

Juan’s Taco Company Cash Budget

January
February
March
Total Cash Receipts
$146,600
$175,000
$207,600
Total Cash Payments
154,500
169,500
220,500
Net Cash Flow
(7,900)
5,500
(12,900)
Beginning Cash Balance
70,000
65,000
67,600
Cumulative Cash Balance
62,100
70,500
54,700
Monthly Loan or (repayment)
2,900
(2,900)
10,300
Cumulative Loan Balance
2,900
-0-
10,300
Ending Cash Balance
$ 65,000
$ 67,600
$ 65,000

2. Hazardous Toys Company produces boomerangs that sell for $8 each and have
a variable cost of $7.50. Fixed costs are $15,000.
a. Compute the break-even point in units.
b. Find the sales (in units) needed to earn a profit of $25,000.

The Break-Even formula is: Fixed Cost / (Selling Price - Variable Cost) So answer to a): $15,000 / (8.00 - 7.50) = 15,000 / .50 = 30,000 units Now to factor in a targeted profit the formula is: (Fixed Cost + Desired profit) / (Selling Price - Variable Cost) So answer to b): (15,000 + 25,000) / (8.00 - 7.50) = (40,000) / (.50) = 80,000 units

3. City Farm Insurance has collection centers across the country to speed up
collections. The company also makes its disbursements from remote
disbursement centers so checks written by City Farm take longer to clear the
bank. Collection time has been reduced by two days and disbursement time
increased by one day because of these policies. Excess funds are being invested
in short-term instruments yielding 12 percent per annum.
a. If City Farm has $5 million per day in collections and $3 million per day in
disbursements, how many dollars has the cash management system freed up?
b. View More »

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