To finance their expanding sales, Craigo has estimated the following monthly financing requirements for January to June 2021 Month Financing Required January $ 60,000.00 February $ 75,000.00 March 35,000.00 April 55,000.00 May $ 85,000.00 June 90,000.00 Short-term financing will be used to finance these funding requirements. The following is the projected annual rates for short-term financing for the year Month Annual Interest Rate January 5.25% February 5.50% March 5.75% April May 5.85% June 6.00% 6.25% IEE B I TY 1 Calculate the total dollar interest expense for each month. (3 marks) b) Compute the total dollar interest payments if a long-term loan of 5.85% had been secured at the beginning of the year. (2 marks) I 1 Nelson Sporting Goods makes biking helmets. A projection of units sold is as follows: March 8,000 April. 9,000 May 15,000 odle.sekirk.ca/mod/quis/secured.php#ockdown Nelson Sporting Goods makes biking helmets. A projection of units sold is as follows: March 8.000 9,000 May 15,000 June 13,000 45,000 April. The production manager decides to go with level production. He will produce the 45,000 items at a level of 11,250 per month. 1 X A BIT IEE c? * a) What is the ending inventory at the end of each month? Compare the units sold to the units produced and keep a running total. (5 marks) b) If the inventory costs $20 per unit and will be financed through the bank at 6 percent per annum, what is the monthly financing cost and the total for the four months