42-

Diemans Corp .has provided a part of its budget for the 2nd quarter:

	Apr	May	June
Cash collections	$40,000	$45,000	$50,000
Cash payments:
Purchases	5,500	7,200	4,500
S. &Adm. expenses	7,900	5,600	9,000
Additional assets	0	40,000	5,000

Assume the company wishes to maintain a minimum cash balance of $ 50,000 at the end of each month. To maintain the minimum cash balance, the company can borrow from the bank in $ 1,000 increments at %12 interest and the company should payback borrowed money when there is an excess cash balance. The cash balance on March 31, 1st. is $25,000.

Calculate the cash balance at the end of June.

Select one:

$75,230

$85,700

$75,300

$82,200

$82,300

41-

Atlas Company's accounting records reflect the following inventories:

Dec. 31, 2016 Dec. 31, 2017

Raw materials inventory $200,000 $200,000

Work in process inventory 100,000 150,000

Finished goods inventory 0 150,000

During 2017, $ 300,000 of raw materials was purchased, direct labor costs amounted to $800,000 and manufacturing overhead incurred was $360,000.

Calculate cost of goods manufactured during 2017 ?

Select one:

$1,250,000.

$1,300,000.

$1,410,000.

$1,450,000.

$1,400,000.

40-

Striebeack Company's accounting records reflect the following inventories:

Dec. 31, 2016 Dec. 31, 2017

Raw materials inventory $200,000 $200,000

Work in process inventory 100,000 200,000

Finished goods inventory 0 150,000

During 2017, $ 300,000 of raw materials was purchased, direct labor costs amounted to $800,000 and manufacturing overhead incurred was $400,000.

Calculate the cost of goods sold during 2017 ?

Select one:

$1,250,000.

$1,400,000.

$1,150,000.

$0.

$1,200,000.

$1,300,000.