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Luchini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The
Luchini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:
- The budgeted selling price per unit is $111. Budgeted unit sales for April, May, June, and July are 7,100 units, 10,100 units, 13,300 units, and 14,000 units, respectively.
- 20% of sales are cash sales; 80% of sales are credit sales.
- Regarding credit sales, 40% are collected in the month of the sale and 60% in the following month.
Calculate the budgeted cash received from customers for the month of May.
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