1) For a venture, the sales forecast for August is $12M. The Cost of goods sold for all months is 60%. The firm has a policy to have in hand inventory to cover 70% of its sales for the month, and the firm plans an additional safety cushion of $1M worth of inventory.

Find the end of July inventory.

$2.98M; $5.45M; $6.04M; $7.35M; or $.816M

2) Each month, a venture pays $25,000 each month in fixed wages, and it pays 20% sales commission on current sales. The sales for Feb. and March are $5M and $8M respectively.

Find the total wages and commission for the month of March.

$1,000,000; $1,245,000; $1,460,000; $1,467,000; or $1,625,000

3) The wages and sales commissions are $100,000 and $150,000 for the month of January and February respectively. If the venture disburses wages and commissions 70% in the current month and 30% in the following month.

Find the total disbursement for the month of February.

$150,000; $135,000; $140,000; $120,000; or $160,000