Healthy Kitchen Inc. manufactures and sells dining sets to retail stores. It provides the following budgeted data for the months of November and December: Budgeted Data - November December Expected number of dining sets to be sold $10,000 12,000 Selling price per set $120 $130 Sales are 30% cash and 70% on account. The sales on account are expected to be collected in the month after the sale. Compute the total cash received from sales in December. Group of answer choices $468,000 $1,560,000 $840,000 $1,308,000
Healthy Kitchen Inc. manufactures and sells dining sets to retail stores. It provides the following budgeted data for the months of November and December: Budgeted Data - November December Expected number of dining sets to be sold $10,000 12,000 Selling price per set $120 $130 Sales are 30% cash and 70% on account. The sales on account are expected to be collected in the month after the sale. Compute the total cash received from sales in December. Group of answer choices $468,000 $1,560,000 $840,000 $1,308,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Healthy Kitchen Inc. manufactures and sells dining sets to retail stores. It provides the following budgeted data for the months of November and December:
Budgeted Data| - | November | December |
|---|---|---|
| Expected number of dining sets to be sold | $10,000 | 12,000 |
| Selling price per set | $120 | $130 |
Sales are 30% cash and 70% on account. The sales on account are expected to be collected in the month after the sale.
Compute the total cash received from sales in December.
Group of answer choices
$468,000
$1,560,000
$840,000
$1,308,000
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