Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Shadee Corporation expects to sell 570 sun shades in May and 430 in June. Each shades sells for $20. Shadee's beginning and ending finished goods

Shadee Corporation expects to sell 570 sun shades in May and 430 in June. Each shades sells for $20. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter: July August September 530 480 440 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 37 percent is collected during the following month, and 9 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August September
image text in transcribed
Shadee Corporation expects to sell 570 sun shades in May and 430 in June. Each shades sells for $20. Shadee's beginning and ending finished goods inventories for May are 70 and 45 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter: Sixty percent of Shadee's sales are cash. Or the credit sales, 54 percent is collected in the month of the sale, 37 percent is collected during the following month, and 9 percent is never collected. Required: Calculate Shadee's total cash recelpts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Buck's The Next Step Advanced Medical Coding And Auditing

Authors: Elsevier

1st Edition

0323762778, 978-0323762779

More Books

Students also viewed these Accounting questions