Michard Corporation makes one product and it provided the following information to help prepare the m months of operations: 1. The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,6C units, respectively. All sales are on credit. 2. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month. 3. The ending finished goods inventory equals 20% of the following month's sales. 4. The ending raw materials inventory equals 30% of the following month's raw materials production ne requires 4 pounds of raw materials. The raw materials cost $2.00 per pound. 5. Regarding raw materials purchases, 30% are paid for in the month of purchase and 70% in the follow 6. The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-h 7. The variable selling and administrative expense per unit sold is $3.40. The fixed selline and administ don ANA Michard Corporation makes one product and it provided the following into months of operations: 1. The budgeted selling price per unit is $125. Budgeted unit sales for Al units, respectively. All sales are on credit. 2. Regarding credit sales, 20% are collected in the month of the sale and 3. The ending finished goods inventory equals 20% of the following mor 4. The ending raw materials inventory equals 30% of the following mon requires 4 pounds of raw materials. The raw materials cost $2.00 per 5. Regarding raw materials purchases, 30% are paid for in the month of 6. The direct labor wage rate is $25.00 per hour. Each unit of finished g 7. The variable selling and administrative expense per unit sold is $3.40 $80,000. The expected cash collections for May is closest to: O $262,500 O $950,000 O $760,000 O $1,022,500 Michard Corporation makes one product and it provided the following information to help prepare the m months of operations: 1. The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,6C units, respectively. All sales are on credit. 2. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month. 3. The ending finished goods inventory equals 20% of the following month's sales. 4. The ending raw materials inventory equals 30% of the following month's raw materials production ne requires 4 pounds of raw materials. The raw materials cost $2.00 per pound. 5. Regarding raw materials purchases, 30% are paid for in the month of purchase and 70% in the follow 6. The direct labor wage rate is $25.00 per hour. Each unit of finished goods requires 3.0 direct labor-h 7. The variable selling and administrative expense per unit sold is $3.40. The fixed selline and administ don ANA Michard Corporation makes one product and it provided the following into months of operations: 1. The budgeted selling price per unit is $125. Budgeted unit sales for Al units, respectively. All sales are on credit. 2. Regarding credit sales, 20% are collected in the month of the sale and 3. The ending finished goods inventory equals 20% of the following mor 4. The ending raw materials inventory equals 30% of the following mon requires 4 pounds of raw materials. The raw materials cost $2.00 per 5. Regarding raw materials purchases, 30% are paid for in the month of 6. The direct labor wage rate is $25.00 per hour. Each unit of finished g 7. The variable selling and administrative expense per unit sold is $3.40 $80,000. The expected cash collections for May is closest to: O $262,500 O $950,000 O $760,000 O $1,022,500
