1. Memphis Company anticipates total sales for April, May, and June of $890,000, $990,000, and $1,040,000 respectively. Cash sales are normally 30% of total sales. Of the credit sales, 30% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 10% are not collected. Compute the amount of cash received from total sales during the month of May.

2. Memphis Company anticipates total sales for April, May, and June of $990,000, $1,090,000, and $1,140,000 respectively. Cash sales are normally 20% of total sales. Of the credit sales, 35% are collected in the same month as the sale, 60% are collected during the first month after the sale, and the remaining 5% are collected in the second month. Compute the amount of accounts receivable reported on the companys budgeted balance sheet for June 30.

3.

Cahuilla Corporation predicts the following sales in units for the coming four months:

	April		May		June		July
Sales in Units	280		320		340		280

Each month's ending Finished Goods Inventory should be 40% of the next month's sales. March 31 Finished Goods inventory is 112 units. A finished unit requires 5 pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 240 pounds of B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted purchases of pounds of direct material B during May should be: