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Neon Light Company of Kansas City ships lamps and lighting appliances throughout the country. Ms. Neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days

by | Jun 5, 2022 | Management | 0 comments

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Neon Light Company of Kansas City ships lamps and lighting appliances throughout the country. Ms. Neon has determined that through the establishment of local collection centers around the country, she can speed up the collection of payments by one and one-half days. Furthermore, the cash management department of her bank has indicated to her that she can defer her payments on her accounts by one-half day without affecting suppliers. The bank has a remote disbursement center in Florida.
a. If Neon Light Company has $2.60 million per day in collections and $1.12 million per day in disbursements, how many dollars will the cash management system free up? (Enter your answer in dollars not in millions (e.g., $1,234,567).)
JGary’s Pipe and Steel company expects sales next year to be $1,040,000 if the economy is strong, $720,000 if the economy is steady, and $389,000 if the economy is weak. Gary believes there is a 40 percent probability the economy will be strong, a 35 percent probability of a steady economy, and a 25 percent probability of a weak economy.
What is the expected level of sales for next year?

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