1 Exercise 9-24 Cash Collections (LO 9-3, 9-5) Coyote Loco, Inc., a distributor of salsa, has the following historical collection pattern for its credit sales. 1 points Skipped 80 percent collected in the month of sale. 10 percent collected in the first month after sale. 5 percent collected in the second month after sale. percent collected in the third month after sale. 1 percent uncollectible. eBook Print The sales on account have been budgeted for the last seven months as follows: References June July August September October November December $130,000 157,500 182,500 215,000 240,000 265,000 227,500 Required: 1. Compute the estimated total cash collections during October from credit sales. 2. Compute the estimated total cash collections during the fourth quarter from sales made on account during the fourth quarter. 1. Total cash collections 2. Total cash collections Check my work 2 Exercise 9-25 Budgeting Production and Raw Material Purchases (LO 9-3, 9-6) 1 points Greener Grass Fertilizer Company plans to sell 230,000 units of finished product in July and anticipates a growth rate in sales of 3 percent per month. The desired monthly ending inventory in units of finished product is 75 percent of the next month's estimated sales. There are 172,500 finished units in inventory on June 30. Each unit of finished product requires 3 pounds of raw material at a cost of $1.95 per pound. There are 700,000 pounds of raw material in inventory on June 30. Skipped eBook Print Required: 1. Compute the company's total required production in units of finished product for the entire three- month period ending September 30. (Round all intermediate calculations and your final answer to the nearest unit.) 2. Independent of your answer to requirement 1, assume the company plans to produce 800,000 units of finished product in the three- month period ending September 30, and to have raw material inventory on hand at the end of the three-month period equal to 25 percent of the use in that period. Compute the total estimated cost of raw-material purchases for the entire three-month period ending September 30. References 1. Total required production in units 2. Total estimated cost