Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Shadee Corp. expects to sell 570 sun visors in May and 450 in June. Each visor sells for $15. Shadee's beginning and ending finished goods
Shadee Corp. expects to sell 570 sun visors in May and 450 in June. Each visor sells for $15. Shadee's beginning and ending finished goods inventories for May are 85 and 50 units, respectively. Ending finished goods inventory for June will be 50 units. It expects the following unit sales for the third quarter: July August 560 480 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 50 percent is collected in the month of the sale, 36 percent is collected during the following month, and 14 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.) August Total Cash Receipts Croy Inc. has the following projected sales for the next five months: MonthSales in Units 3,570 3,835 4,600 4,155 3,940 Croy's finished goods inventory policy is to have 60 percent of the next month's sales on hand at the end of each month. Direct material costs $2.50 per pound, and each unit requires 2 pounds. Raw materials inventory policy is to have 50 percent of the next month's production needs on hand at the end of each month. Raw materials on hand at March 31 totaled 3,729 pounds 1. Determine budgeted production for April, May, and June. (Do not round your intermediate calculations and round your final answer to the nearest whole number.) May Budgeted Production (Units) 2. Determine the budgeted cost of materials purchased for April, May, and June. (Use rounded Budgeted Production units in intermediate calculations. Round your answers to 2 decimal places.) May Budgeted Cost of Material Purchased
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started