Financial Management Problems Multiple Chapters

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Quantity = 3000 X 120% = 3,600

SP = 50 x 110% = 55

Quantity x SP = 198,000

Less: Returned Sales = (6%x198,000)

Sales Projection = $186,120

Beginning Inventory $21 X 400 = 8400

Production $24 X 800 = 19200

Cost of Goods Sold 700 units

FIFO (21 X 400) + (24 X 300) = $15,600

Beginning Inventory $10 X 725 = 8400

Production $14 X 650 = 19200

Cost of Goods Sold 700 units

LIFO (14 X 650) + (10 X 350) = $12,600

Sales and Cash Collections Budget

Quarter Ending Dec 31st, 2011

Total

Sales:

Total sales

$25,000

$35,000

$30,000

$90,000

Total cash sales (40%)

$5,000

$7,000

$6,000

$18,000 Total credit sales (60%)

$20,000

$28,000

$24,000

$72,000

Cash collections:

Current month cash sales

$5,000

$7,000

$6,000

$18,000

Collection of credit sales

$20,000

$28,000

$24,000

Total cash collections

$5,000

$27,000

$34,000

$42,000

Quarter end receivables

$72,000

Cash Budget

Quarter Ending Dec 31, 2011

October

November

December

Total

Receipts:

Cash, beginning balance

$0

$6,000

$6,000

$12,000

Collections from customers

$5,000

$27,000

$34,000

$66,000

Total cash available

$5,000

$33,000

$40,000

$78,000

Total disbursements

$0

$30,400

$29,800

$60,200

Excess (deficiency) of cash

$5,000

$2,600

$10,200

$17,800

Draws online of credit

$1,000

$3,400

$0

$4,400

Repayments

$0

$0

$4,200

$200

Cash, ending balance

$6,000

$6,000

$6,000

$22,000

5.

a) PV = 8000/(1+ 0.06)10 = $4,467.

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16

b) PV = 16000/(1+ 0.12)5 = $9,078.83

c) PV = 25000/(1+ 0.08)15 = $7,881.04

6.

a. FV = 12000 X (1+ 0.07)6 = $18,008.76

b. FV = 12000 X (1+ 0.12)15 = $65,682.79

c. FV = 12000 X (1+ 0.10)25 = $130,016.47

13

WACC = Ke [Ve / (Ve + Vd )] + Kd [Vd/(Ve + Vd)]

= 17% [0.5] + 5% [0.5]

= 11%

Project A should be accepted

14. Airborne airlines, Inn. Has a $1,000 par value bond outstanding with 25 years to maturity. The bond carries an annual interest payment of $75 and is currently selling for $875. Airborne is in the 30% tax bracket. The firm wishes.....

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