Question
Shadee Corporation expects to sell 510 sun shades in May and 400 in June. Each shades sells for $16. Shadees beginning and ending finished goods
Shadee Corporation expects to sell 510 sun shades in May and 400 in June. Each shades sells for $16. Shadees beginning and ending finished goods inventories for May are 65 and 50 shades, respectively. Ending finished goods inventory for June will be 50 shades.
It expects the following unit sales for the third quarter:
July560August480September430Sixty percent of Shadees 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 Shadees total cash receipts for August and September.
Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar.
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