Use the information below about Toscano Company to answer questions 14 and 15. Toscano Company makes all its sales on account. Accounts receivable payment experience is as follows: Percent paid in the month of sale 25% Percent paid in the month after the sale 64% Percent paid in the second month after the sale 5% Toscano provided information on sales as follows: May June July August (expected) $140,000 $115,000 $126,000 $132,000 What is the budgeted cash to be collected by Toscano in the month of August? A. $132,000 B.$154,600 C.$119,390 D.545,000 E. $150,000 Click Save and submit to save and submit. Click Save All Answers to save all answers Save All Answers Close w the information below about Toscano Company to answer questions 14 and 15. Toscano Company makes all its sales on account. Accounts receivable payment experience is as follows: Percent paid in the month of sale 25% Percent paid in the month after the sale 64% Percent paid in the second month after the sale 5% Toscano provided information on sales as follows: May June July August (expected) $140,000 $115,000 $126,000 $132,000 How much of Toscano's June credit sales are expected to be collected in the month of July? A $80,000 B.$60,000 C.$36,000 D. 973,600 E $30,000 Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers OE 10,500 QUESTION 13 Ressen Company finds that typically 30% of a month's sales are for cash. Payments on accounts receivable are 60% in the month of sale and 38% in the month following sale. Budgeted sales for June are $100,000, for July $140,000, and for August $120,000. What are the total cash receipts budgeted for July? O A $127,400 B. $262,000 C. $164,000 D. $122,000 O E $85,400 OF. $140,000 QUESTION 14 Click Save and Submit to save and submit. Click Save All Answers to save all answers We All Answers Save All Answers Close QUESTION 12 Use the information below about Saphire Company to answer questions 11 and 12. Saphire Company budgeted the following production in units for the second quarter of the year: April 45,000 May 38,000 June 42,000 Each unit requires four pounds of raw material. Saphire's policy is to have 30 percentage of the following month's production needs for materials in inventory. This policy was met in March Desired ending raw material inventory of Saphire for April in pounds equals: A 45,600 B.54,000 C. 11,400 OD.38,300 DE 10,500 UESTION 13 ok Save and Submit to save and submit. Click Save All Answers to save all answers. Save All Answers