Final Exam X Cost Behavior Analysis in a Re X C Solved: Cost Behavior Analysix hobby lobby - Bing x New tab X https://mybusinesscourse.com/platform/mod/quiz/attempt.php?attempt=5904934&cmid=316988&page=5 BusinessCourse Return to course Support * # My Subscriptions 9 Heineka C The sales budget for Perrier Inc. is forecasted as follows: Month Sales Revenue May $130,000 June 150,000 July 200,000 August 130,000 To prepare a cash budget, the company must determine the budgeted cash collections from sales. Historically, the following trend has been established regarding cash collection of sales: 60 percent in the month of sale. . 20 percent in the month following sale 15 percent in the second month following sale. 5 percent uncollectible. The company gives a 2 percent cash discount for payments made by customers during the month of sale. The accounts receivable balance on April 30 is $22,000, of which $7,000 represents uncollected March sales and $15,000 represents uncollected April sales. (Hint: For collections of March and April receivables, start by determining total sales for the month Assume the normal sales pattern.) Prepare a schedule of budgeted cash collections from sales for May, June, and July. Include a three-month summary of estimated cash collections. Perrier, Inc. Schedule of Budgeted Cash Collections Quarterly by Months May June July Total Total Cash receipts: $ $ 6:29 PM Type here to search O W 61F ~ 6 0941 12/6/2021