Shadee Corporation expects to sell 600 sun shades in May and 450 in June. Eachshades sells for $11. Shadee's beginning and ending finished goods inventories for Mayare 70 and 40 shades, respectively. Ending finished goods inventory for June will be 60shades.It expects the following unit sales for the third quarter:JulyAugust545480September460Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected inthe month of the sale, 36 percent is collected during the following month, and 12 percentis never collected.Required:Calculate Shadee's total cash receipts for August and September.Note: Do not round your intermediate calculations. Round your answers to the nearestwhole dollar.Total Cash ReceiptsAugustSeptember

The budget is prepared to estimate the requirements for the future period. The cash collection…

Answered: Shadee Corporation expects to sell 600…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $525,000 for April, $535,000 for May, and $560,000 for June. Total sales for March are $500,000. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from: Cash sales JASPER COMPANY Schedule of Cash Receipts from Sales April COUNT Collections of prior period sales Total cash receipts $ 525,000 367,500 May 535,000 June 560,000
Croy Inc. has the following projected sales for the next five months: Month Sales in Units April 3,450 May 3,940 June 4,640 July 4,180 August 3,980 Croy’s finished goods inventory policy is to have 50 percent of the next month’s sales on hand at the end of each month. Direct materials costs $3.00 per pound, and each unit requires 2 pounds. Direct materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. Direct materials on hand at March 31 totaled 3,695 pounds. Required: 1. Determine budgeted production for April, May, and June. 2. Determine budgeted cost of materials purchased for April and May.
Cahuilla Corporation predicts the following sales in units for the coming four months: Sales in units Each month's ending finished goods inventory should be 40% of the next month's sales. March 31 finished goods inventory is 144 units. A finished unit requires five pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 210 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is: Multiple Choice 350 units. April May June July 360 400 420 360 240 units.
pos Ibie Furniture, Inc., estimates the following number of mattress sales for the first four months of 2019: Month Sales January February 22,000 39,800 March 28,600 April 44,200 Finished goods inventory at the end of December is 6,900 units. Target ending finished goods inventory is 10% of the next month's sales. How many mattresses should be produced in the first quarter of 2019? A. 92,340 mattresses B. 68,840 mattresses TE O C. 87,920 mattresses 1 a O D. 57,760 mattresses Mi F Ju fir https: Cha The es sales 4 Missing Calculator Next http://mi tho ?3 O O O O
Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in full in the first month following the sale. The company budgets sales of $525,000 for April, $535,000 for May, and $560,000 for June. Total sales for March are $500,000. Prepare a schedule of cash receipts from sales for April, May, and June. Sales Cash receipts from: Total cash receipts JASPER COMPANY Schedule of Cash Receipts from Sales April May 525,000 535,000 June 560,000
In October, November, and December, CVM Inc. expects to sell 50,000, 48,000, and 51,000 units, respectively. The company's policy is to keep an end-of-month finished-goods inventory equal to 40% of the following month's sales. On the basis of this information, how many units would the company plan to produce in November?
Mesh Merchandising Company expects to purchase $86,000 of materials in July and $118,000 of materials in August. Three-quarters of all purchases are paid for in the month of purchase, and the other one-fourth are paid for in the month following the month of purchase. How much will August's cash disbursements for materials purchases be? A) $118,000 B) $64,500 C) $88,500 D) $110,000
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Cahuilla Corporation predicts the following sales in units for the coming four months: April May June July Sales in units 240 280 300 240 Each month's ending Finished Goods Inventory should be 40% of the next month's sales. March 31 finished goods inventory is 96 units. A finished unit requires five pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 200 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted production for May is: Select one: a. 288 units. b. 400 units. c. 232 units. d. 280 units. e. 168 units. Clear my choice
Furniture, Inc., estimates the following number of mattress sales for the first four months of 2024: Month Sales January 10,000 February 14,000 March 13,000 April 16,000 Finished goods inventory at the end of December is 3,000 units. Target ending finished goods inventory is 30% of the next month's sales. How many mattresses need to be produced in January 2024? A) 8,800 mattresses B) 11,200 mattresses C) 13,000 mattresses D) 14,200 mattresses

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