1 The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information Sales at $610,000, all for cash Merchandise inventory on October 31 was $280,000 The cash balance November 1 was $34,000 Selling and administrative expenses are budgeted at $108,000 for November and are paid for in cash Budgeted depreciation for November is $57,000 The planned merchandise inventory on November 30 is $310,000 The cost of goods sold is 70 of the selling price All purchases are paid for in cash There is no interest expense or income tax expense The budgeted cash receipts for November are a) $475,000 b) $610,000 c) $135,000 d) $667,000 2 Gourley Clinic uses client visits as its measure of activity During August, the clinic budgeted for 4,200 client visits, but its actual level of activity was 4,270 client visits The clinic has provided the following data concerning the formulas to be used in its budgeting Fixed element per month Variable element per client visit Revenue $41 00 Personnel expenses $37,000 $12 20 Medical supplies 3,000 9 00 Occupancy expenses 8,200 3 00 Administrative expenses 7,000 0 3 Total expenses $55,200 $24 50 The activity variance for administrative expenses in August would be closest to a $21 U b $21 F c $81 F d $81 U 3 Freet Inc is preparing its cash budget for November The budgeted beginning cash balance is $27,000 Budgeted cash receipts total $106,000 and budgeted cash disbursements total $93,000 The desired ending cash balance is $65,000 The company can borrow up to $70,000 at any time from a local bank, with interest not due until the following month Required Prepare the company's cash budget for November in good form Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance (Input all amounts as positive values Omit the $ sign in your response ) Cash balance, beginning $ Add cash receipts Total cash available Less cash disbursement Excess (deficiency) of cash available over disbursements Borrowings Cash balance, ending $

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1. The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information: Sales at $610,000, all for cash. Merchandise

1. The Adams Corporation, a merchandising firm, has budgeted its activity for November according to the following information:

Sales at $610,000, all for cash.

Merchandise inventory on October 31 was $280,000.

The cash balance November 1 was $34,000.

Selling and administrative expenses are budgeted at $108,000 for November and are paid for in cash.

Budgeted depreciation for November is $57,000.

The planned merchandise inventory on November 30 is $310,000.

The cost of goods sold is 70% of the selling price.

All purchases are paid for in cash.

There is no interest expense or income tax expense.

The budgeted cash receipts for November are:

a) $475,000

b) $610,000

c) $135,000

d) $667,000

Gourley Clinic uses client-visits as its measure of activity. During August, the clinic budgeted for 4,200 client-visits, but its actual level of activity was 4,270 client-visits. The clinic has provided the following data concerning the formulas to be used in its budgeting:

	Fixed element per month	Variable element per client-visit
Revenue		$41.00

Personnel expenses	$37,000	$12.20
Medical supplies	3,000	9.00
Occupancy expenses	8,200	3.00
Administrative expenses	7,000	0.3
Total expenses	$55,200	$24.50

The activity variance for administrative expenses in August would be closest to:

a. $21 U

b. $21 F

c. $81 F

d. $81 U

Freet Inc. is preparing its cash budget for November. The budgeted beginning cash balance is $27,000. Budgeted cash receipts total $106,000 and budgeted cash disbursements total $93,000. The desired ending cash balance is $65,000. The company can borrow up to $70,000 at any time from a local bank, with interest not due until the following month.

Required:

Prepare the company's cash budget for November in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance. (Input all amounts as positive values. Omit the "$" sign in your response.)


Cash balance, beginning	$ ?
Add cash receipts	?

Total cash available	?
Less cash disbursement	?

Excess (deficiency) of cash available over disbursements	?
Borrowings	?

Cash balance, ending	$?