1. As of January 2011, nonmortgage consumer debt had increased for the fourth straight month. At the same time, credit card debt fell to a six-year low point. Excluding mortgages, how
can it be that consumer debt is rising while credit card debt is falling?

Schuepfer inc. bases its selling and administrative expense budget on budgeted unit sales. the sales budget shows 1,800 units are planned to be sold in march. the variable selling and administrative expense is $4.30 per unit. the budgeted fixed selling and administrative expense is $35,620 per month, which includes depreciation of $2,700 per month. the remainder of the fixed selling and administrative expense represents current cash flows. the cash disbursements for selling and administrative expenses on the march selling and administrative expense budget should be: