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Question 10 2 pts Big Watches Co. makes one product and it provided the following information to help prepare the master budget for its first
Question 10 2 pts Big Watches Co. makes one product and it provided the following information to help prepare the master budget for its first four months of operations: The budgeted selling price per unit is $89. Budgeted unit sales for September, October, November, and December are 19,000, 18,000, 18,000, and 16,000 units, respectively. All sales are on credit. 35% of credit sales are collected in the month of the sale and 65% in the following month. The ending finished goods inventory equals 19% of the following month's unit sales. The ending raw materials inventory equals 25% of the following month's raw materials production needs. Each unit of finished goods requires 14 pounds of raw materials. The raw materials cost $13.00 per pound. 25% of raw materials purchases are paid for in the month of purchase and 75% in the following month. What is the accounts receivable balance at the start of December? Round your answer to the nearest whole number
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