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Show working. This is the full question Information pertaining to Safraz Corp's sales revenue budget is presented below. November December January Cash sales $96,000 $125,000
Show working. This is the full question
Information pertaining to Safraz Corp's sales revenue budget is presented below. November December January Cash sales $96,000 $125,000 $78,000 Credit sales $288,000 $450,000 $234,000 Total sales $384,000 $575,000 $312,000 Management estimates that 4% of credit sales would be uncollectible. Of the collectible credit sales, 75% percent would be collected in the month of sale and the remainder in the month following the sale. The firm desires to begin each month with 65% of the month's projected total sales on hand. All purchases of inventory were to be on account; 30% would be paid in the month of purchase, and the remainder would be paid in the month following the purchase. The purchase costs are 60% of the selling prices. For all answers: only enter digits (round values where necessary). Do not enter $ sign, or commas, or decimal points. Calculate the total budgeted cash collections in December: Calculate the Budgeted Beginning Inventory in November: Calculate the Budgeted Ending Inventory in November: Calculate the portion of December sales that will be collected in JanuaryStep by Step Solution
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