Question
Salich Manufacturing Corporation has provided the following sales budget information: July $ 65,000 August $ 75,000 September $ 80,000 Cash sales are normally 40% of
Salich Manufacturing Corporation has provided the following sales budget information:
July | $ | 65,000 | |
August | $ | 75,000 | |
September | $ | 80,000 | |
Cash sales are normally 40% of total sales; credit sales are expected to be collected in their entirety in the month following the month of sale. The amount of cash expected to be received from customers in September is:
Multiple Choice
-
$32,000.
-
$75,000.
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$77,000.
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$74,000.
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$80,000.
2.
Gorberchev Food Processing expects to have 35,000 units of finished goods inventory on hand on March 31 and reports the following expected sales (in units) for the months of April through July:
April | 135,000 |
May | 155,000 |
June | 165,000 |
July | 135,000 |
At the end of each month the company desires its ending finished goods inventory to be 20% of the next month's projected sales (in units).
The budgeted production (in units) for Gorberchev Food Processing for April should be:
Multiple Choice
-
139,000.
-
135,000.
-
142,200.
-
131,000.
-
169,000.
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