Question
Sunland Company produces and sells chairs. Monthly budgeted sales are as follows: June 490 July 550 August 320 September 440 October 470 The ending inventory
Sunland Company produces and sells chairs. Monthly budgeted sales are as follows: June 490 July 550 August 320 September 440 October 470 The ending inventory of finished goods is 5% of the next months budgeted sales. 10% of sales are budgeted as cash sales and the remaining sales are budgeted as credit sales. According to the company records, 40% of credit sales are collected in the same month, 35% are collected in the next month, 22% are collected two months after the sale, and remaining are uncollectible. If the company is selling 1 chair for $150, then calculate total cash received in September.
A. [Control]$62724 B. [Control]$62621 C. [Control]$61103 D. [Control]$61815
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