A company is completing their Cash Budget. The following data has been prepared for cash receipts and payments.

	January	February	March
Cash Receipts	$1,061,200	$1,182,400	$1,091,700
Cash Payments	$984,500	$1,210,000	$1,075,000

The companys cash balance at January 1st is $290,000. This company desires a minimum cash balance of $340,000.

What is the amount of excess cash or deficiency of cash (after considering the minimum cash balance required) for February? (hint: must figure Januarys ending balance first)

Finch Company began its operations on March 31 of the current year. Finch Co. has the following projected costs:

	April	May	June
Manufacturing costs(1)	$156,800	$195,200	$217,600
Insurance expense (2)	$1,000	$1,000	$1,000
Depreciation expense	$2,000	$2,000	$2,000
Property tax expense(3)	$500	$500	$500

(1) 3/4 of the manufacturing costs are paid for in the month they are incurred. 1/4 is paid in the following month. Marchs total manufacturing costs were $8,000.

(2) Insurance expense is $1,000 a month; however, the insurance is paid four times yearly in the first month of the quarter, i.e. January, April, July, and October.

(3) Property tax is paid once a year in November.

32.The cash payments for Finch Company in the month of April and May, respectively, are

Stephanie Company has two production departments: D and J. Stephanie also has 3 service departments: Personnel, Administration, and Shipping. Shipping costs are allocated on the basis of number of packages, while Personnel and Administration costs are allocated using number of employees. Assume that the ranking of the benefits provided is in the order listed below.

Department	Costs	Employees	# of Packages
Personnel	$600,000	25	7,000
Administration	800,000	20	9,000
Shipping	700,000	12	27,500
D	500,000	10	5,000
J	400,000	15	6,000

33. Refer to Stephanie Company. Using the step method, what amount of Administration costs is allocated to Department D (rounded to the nearest $)? (Hint: complete the process to allocate Personnel costs first)

34. Refer to Stephanie Company. Using the step method, what amount of Shipping costs is allocated to Department J (rounded to the nearest $)? (Hint: complete the process to allocate Personnel and Administration costs first)

Beta Division had the following information:

Investment in Beta Division	$400,000
Operating Profit in Beta Division	$50,000
Weighted average cost of capital	12%
Target ROI	15%
Profit Margin % for Beta Division	20%

35. If the division investment is decreased by $100,000, with no other changes, the return on investment of Beta Division will be