Question
Shadee Corporation expects to sell 530 sun shades in May and 300 in June. Each shades sells for $17. Shadees beginning and ending finished goods
Shadee Corporation expects to sell 530 sun shades in May and 300 in June. Each shades sells for $17. Shadees beginning and ending finished goods inventories for May are 70 and 50 shades, respectively. Ending finished goods inventory for June will be 55 shades.
It expects the following unit sales for the third quarter:
July500August500September440Sixty percent of Shadees sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 38 percent is collected during the following month, and 8 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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