Question
Public Manufacturing Company (PMC) is preparing their budgeted financial statements for the coming year, and has accumulated the following data: Beginning-of-period balances: Cash $40,000 Accounts
Public Manufacturing Company (PMC) is preparing their budgeted financial statements for the coming year, and has accumulated the following data: Beginning-of-period balances: Cash $40,000 Accounts Receivable $50,000 Raw Materials Inventory $14,000 Work-in-Process Inventory $160,000 Finished Goods Inventory $6,000 Equipment (historical value) $200,000 Accumulated Depreciation $130,000 Accounts Payable $62,000 Estimates for end-of-period balances: Accounts Receivable $55,000 Raw Materials Inventory $10,000 Work-in-Process Inventory $120,000 Finished Goods Inventory $5,000 Accumulated Depreciation $124,000 Accounts Payable $50,000 Budgeted activity levels for the period: Sales 12,000 units @ a sales price of $300/unit Purchases of Direct Materials $500,000 Direct Labor Wages $340,000 Manufacturing Overhead $1,400,000 Selling and Administrative Expenses $1,300,000 What is the budgeted cash received from customers?
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