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Shadee Corp. expects to sell 620 sun visors in May and 390 in June. Each visor sells for $16. Shadee's beginning and ending finished goods
Shadee Corp. expects to sell 620 sun visors in May and 390 in June. Each visor sells for $16. Shadee's beginning and ending finished goods inventories for May, are 85 and 50 units, respectively. Ending finished goods inventory for June will be 70 units. It expects the following unit sales for the third quarter: July August September 575 490 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 36 percent is collected during the following month, and 10 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 September Total Cash Receipts Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sells to individuals as well as local companies that coordinate adventure getaways in the desert for tourists. The following information is available for several months of the current year $ Month May June July August Cash Expenses Sales Purchases Paid 97,000 $ 67,000 $ 23,000 116,000 92,000 24,500 139,000 118,000 32,250 128,000 74,000 32,280 The majority of Martin's sales (65 percent) are cash, but a few of the excursion companies purchase on credit. Of the credit sales, 35 percent are collected in the month of sale and 65 percent are collected in the following month. All of Martin's purchases are on account with 55 percent paid in the month of purchase and 45 percent paid the following month. Required: 1. Determine budgeted cash collections for July and August. 2. Determine budgeted cash payments for July and August Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine budgeted cash collections for July and August. (Round your intermediate whole dollar) July August Budgeted Cash Collections Required 2 >
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