1. Float and Weighted Average Delay Your neighbor goes to the post office once a month and picks up checks, one for 17,000 and one for 6000. The larger check takes four days to clear after it is deposited, the smaller one takes five days. a. What is the total float for the month? b. What is the average daily float? c. What is the average daily receipts and weighted average delay 2. Lockboxes and collections It takes cookie cutter modular homes Inc about six days to receive and deposit checks from customers. Cooke Cutters management is considering a lock box system to reduce the firm collection times. It is expected that the lockbox system will reduce receipt and deposit times to three days total. Average daily collections are 145,000 and the required rate of return is 9 percent per year. a. What is the reduction in outstanding cash balance as result of implementing the lockbox system? b. What is the dollar return that could be earned on these savings? c. What is the maximum monthly charge cookies cutter should pay for this lockbox system if the payment is due at the end of the month? What if the payment is due at the beginning of the month? 3. Size of Accounts Receivable The Arizona Bay Corporation sells on credit terms o net 30. Its accounts are, on average, 8 days past due. If annual credit sales are 8.4 million, what is the companys balance sheet amount in account receivable? 4. EQO The Trektronics store begins each week with 300 phases in stock. This stock is depleted each week and reordered. If the carrying cost per phaser is 41 per year and the fixed order cost is 95, what is the total carrying cost? What is the restocking cost? Should Trektronics increase or decrease it order size? Describe an optimal inventory policy for Tretronics in terms of order size and order frequency.