how much would it cost to complete this homework for me and to


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how much would it cost to complete this homework for me and to receive an A on it? HOMEWORK.docx 1. The California café cash and credit sales are listed above. The café is able to collect 40% of their credit sales during the first month (after the sale), and 60% during the second month (after the sale). What amount of total sales collected in July (cash and credit)? o o o o 20,550 50,050 41,650 50,200 2. An operating budget must be completed before putting together a cash budget. True False 3. Which of the following is the correct calculation for contribution margin ratio? o o o o Revenue divided by variable costs Revenue divided by contribution margin Contribution margin divided by revenue Contribution margin divided by fixed costs 4. Smith Home Away from home is a limited service hostel hotel. For the month of May, smith budgeted to sell 10,000 rooms at a price of $52. Smith’s management estimated the variable cost at $32 per room and budgeted fixed costs of $50,000 for the month. During May, Smith actually sold 9,200 rooms, earning $470,000 in revenue. In addition, Smith’s actual total variable and fixed costs amounted to $282,000 and $46,000. What is the fixed cost variance? o $4,000 favorable o $6,000 favorable o $6,000 Unfavorable o $4,000 unfavorable 5. The California café cash and credit sales are listed above. The café is able to collect 40% of their credit sales during the first month (after the sale), and 60% during the second month (after the sale). What amounts of credit sales are collected in May? o 21,450 o 49,200 o 24,300 o 24,900 6. A positive variance does not indicate that there are not any problems and therefore there is no need for it to be investigated. True False 7. The objective of a cash forecast is to alert management to: o Probable cash shortages or surpluses in advance o Instances where cash may have been stolen by employees o Possible management conflicts o Employee scheduling and labor issues 8. A cash budget is being prepared for the month of April. One of the items on the income statement being used to develop the cash budget is insurance expense of $200 a month. It is a prepaid and the annual insurance invoice of 2,400 is paid in May. What is the amount of cash disbursement you should show in April for insurance? o $200 o $2,400 o $0 9. The contribution margin can be expressed as: o o o o Sales minus variable expenses Sales minus cost of goods sold Sales minus fixed expenses The level of sales required to cover variable expenses 10. Smith Home Away from home is a limited service hostel hotel. For the month of May, smith budgeted to sell 10,000 rooms at a price of $52. Smith’s management estimated the variable cost at $32 per room and budgeted fixed costs of $50,000 for the month. During May, Smith actually sold 9,200 rooms, earning $470,000 in revenue. In addition, Smith’s actual total variable and fixed costs amounted to $282,000 and $46,000. – $50,000 favorable $8,400 favorable $8,400 Unfavorable $50,000 unfavorable 11. In preparing a cash budget the budgeted level of cash disbursements would take into account all of the following except: o The credit term offered by vendors on purchases o The current experience the company has in collecting receivables (time periods 30- 40 days, etc.) o Budget operating expenses o Planned capital expenditures (i.e purchases of assets) 12. Which of the following will increase a company’s breakeven point? o Increasing variable cost per unit o Decreasing variable cost per unit o Reducing total fixed costs o Increasing the selling price per unit 13. Lizzie’s Riverside Grill compares monthly operating results with a static budget prepared at the beginning of the year. When actual sales are less than budget, the restaurant would usually report favorable variances on: o o o o Fixed supervisory salaries and variable food costs. Variable food costs but not fixed supervisory salaries. Fixed supervisory salaries but not variable f

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