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2 2 pts KuoKuts makes one product and it provided the following information to help prepare the master budget for its first four months of
2 2 pts KuoKuts makes one product and it provided the following information to help prepare the master budget for its first four months of operations: The budgeted selling price per unit is $67. Budgeted unit sales for May, June, July, and August are 8,000, 10,000, 14,000, and 13,000 units, respectively. All sales are on credit. 35% of credit sales are collected in the month of the sale and 65% in the following month. The ending finished goods inventory equals 30% of the following month's unit sales. The ending raw materials inventory equals 15% of the following month's raw materials production needs. Each unit of finished goods requires 7 pounds of raw materials. The raw materials cost $7.00 per pound. 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. What are the expected cash collections during June? Round your answer to the nearest whole number
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