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Please answer for part B Swifty Company's budgeted sales and direct materials purchases are as follows: April May June Budgeted Sales $281,000 343,000 396,000 Budgeted
Please answer for part B
Swifty Company's budgeted sales and direct materials purchases are as follows: April May June Budgeted Sales $281,000 343,000 396,000 Budgeted D.M. Purchases $46,000 52,000 62,000 Swifty's sales are 40% cash and 60% credit. Credit sales are collected 20% in the month of sale, 50% in the month following sale, and 26% in the second month following sale; 4% are uncollectible. Swifty's purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month following the purchase and 60% in the second month following the purchase. (a) Your answer is correct. Prepare a schedule of expected collections from customers for April, May, and June. Swifty Company Schedule of Expected Collections from Customers Sales 281000 343000 396000 eTextbook and Media (b) April 146120 146120 May 84300 178360 262660 Prepare a schedule of expected payments for direct materials for June. Swifty Company Schedule of Expected Payment for Direct Materials Purchases April May June 4383C 10290C 20592C 35265t Attempts: 1 of 2 used Jun April May June Total Collections
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