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Omar Inc. manufactures an advanced swim fin for scurba divers. Management is now preparing detailed budgets for the third quarter, July through September, and has

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Omar Inc. manufactures an advanced swim fin for scurba divers. Management is now preparing detailed budgets for the third quarter, July through September, and has assembled the following information to assist in preparing the budget. The marketing department has estimated sales in units as follows for the remainder of the year. ngbut2 1630 June 6,500 lot oil batimni 099925919 July Jednoworogizes aint 5,400 August 7,200 asupaint 925912. September sal 4,600 Inila ni tugilaow5 October 3,800 balls 1. The selling price of the swim fins is $35 per pair 2. All sales are on account. Based on the experience, the company has learned that 40% of a month's of sales are collected in the month of sale, another 50% are collected in the month following sale, and the remaining 10% are collected in the second month of sale. May sales totaled $ 105,000 and June Sales $227,500. 3. The finished goods inventory on hand at the end of each month must be equal to 15% of the next month's sales. The finished goods inventory on hand in June 30, is budgeted to be $810. 4. Each pair of swim fins requires 3 pounds of geico compound. The company would like the inventory of geico compound on hand at the end of each month to be equal to 20% of the following month's production needs. The inventory of geico compound on hand on June 30 is budgeted to be 3,402 pounds and inventory on hand on September 30 is budgeted to be 2,280 pounds. 5. Geico compound costs $0.40 per pound. You are required to add the following information: 2. What is the amount of account receivables

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