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I have passed my MA exam over this weekend. Thanks for your free lectures, they absolutely made sense plus your help answering some doubts about some concepts. I completely skipped statistical techniques chapter but still passed comfortably.
I have one question which came in the exam it was something like this.. not the exact figures tho..
Two products X:y are budgeted to sell with 2:1 ratio.
Selling price
X: 8 per unit
Y: 12 per unit
Total budgeted sales are 140,000
What is the budgeted sales for product Y.
I don’t remember multiple choice answers though and I didn’t understand the question so I only guessed it not sure if it was correct or incorrect.
Please explain.
Thanks againCongratulations on passing your exam 🙂
I assume that $140,000 was the total sales revenue (and not the number of units).
For every 3 units they sell, 2 will be of X and 1 will be of Y. So for every 3 items the revenue will be (2 x $8) + (1 x $12) = $28.
Therefore the total number of sets of 3 items will be 140,000 / 28 = 5,000.
So they will be budgeting on selling 10,000 of X and 5,000 of Y.
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