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I dont know how to do this on excel please help Burks Traps is a small film specializing in the manufacture of lobster traps. Although
I dont know how to do this on excel please help Burks Traps is a small film specializing in the manufacture of lobster traps. Although production occurs year-round, sales occur primarily in the months of May through September Since the business is seasonal, the company has required short-term operating loans from its bank in order to meet the working capital demands of its peak sales season. These loans, on which monthly interest of .35% is payable, are made by the bank on the conditions that (1) the loan is liquidated for at least part of each year (loan balance of $0), and (2) the firm maintains a cash balance of at least $13,000 On the first day of each month, interest is to be paid on the loan amount outstanding during the preceding month. Loans are made, and/or repaid, in any amount on the first day of each month The company's president, Frank Maxwell, has hired you to undertake a study of the firm's operating loan requirements for the upcoming year Sales of lobster traps have increased steadily over the last five years. During October, November, and December of the past year, unit sales were as planned and equaled 1,350, 900 and 450 units, respectively. This year, Frank expects that sales could be anywhere between 24,000 and 32,000 units, with any point on this interval equally likely. To prepare the budget, Frank has decided to use the midpoint of the range Monthly sales, as a percentage of annual sales, Open With Print Burks Traps is a small film specializing in the manufacture of lobster traps. Although production occurs year-round, sales occur primarily in the months of May through September Since the business is seasonal, the company has required short-term operating loans from its bank in order to meet the working capital demands of its peak sales season. These loans, on which monthly interest of .35% is payable, are made by the bank on the conditions that (1) the loan is liquidated for at least part of each year (loan balance of $0), and (2) the firm maintains a cash balance of at least $13,000 On the first day of each month, interest is to be paid on the loan amount outstanding during the preceding month. Loans are made, and/or repaid, in any amount on the first day of each month The company's president, Frank Maxwell, has hired you to undertake a study of the firm's operating loan requirements for the upcoming year Sales of lobster traps have increased steadily over the last five years. During October, November, and December of the past year, unit sales were as planned and equaled 1,350, 900 and 450 units, respectively. This year, Frank expects that sales could be anywhere between 24,000 and 32,000 units, with any point on this interval equally likely. To prepare the budget, Frank has decided to use the midpoint of the range Monthly sales, as a percentage of annual sales, Open With Print
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