Solved

Ruff Wear Expects Sales of $560,$650,$670,and $610 for the Months

Question 16

Multiple Choice

Ruff Wear expects sales of $560,$650,$670,and $610 for the months of May through August,respectively.The firm collects 20 percent of sales in the month of sale,70 percent in the month following the month of sale,and 8 percent in the second month following the month of sale.The remaining 2 percent of sales is never collected.How much money does the firm expect to collect in the month of August?


A) $621
B) $628
C) $633
D) $639
E) $643 August collections = 0.20($610) + 0.70($670) + 0.08($650) = $643

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents