Flopstop Company expects unit sales to be 2,000 and 3,000 for the first two quarters of 20xx. The selling price is expected to be $100 in Q1 and then increase to $115 for Q2. Twenty percent of the total sales are cash sales. The remaining eighty percent of total sales are credit sales. Credit sales are collected 40% in the quarter following the sale, 40% in the second quarter following the sale and a final 15% percent in the third quarter following the sale. Sales for the previous year were $250,000; $280,000; $310,000 and $360,000 for Q1 through Q4, respectively.

32. Total budgeted revenues for the first two quarters of 20xx is:

a. $525,000

b. $530,000

c. $545,000

d. None of the above

33. Total cash collections for Q1 and Q2 of 20xx is:

a. $389,400

b. $573,400

c. $423,600

d. None of the above