Mr. Logan is a financial manager of Sweethermanas Berhad. He is responsible for preparing the cash budget of the company for the second quarter of 2020. The company sales and forecasted sales are as follows: Sales (RM) 68,000 70,000 80,000 85,000 90,000 108,000 Month February March April May June July The customer pays cash for 20 percent of sales in the month of sales, and the balance is credit sales. Forty (40) percent will be collected a month after sales, and another 40 percent will be collected two (2) months after-sales. Purchases of raw materials 60 percent of sales and are made one month in advance of the sale. The supplier is paid 100 percent in the month of the following purchase. The monthly fixed expense is RM10,800.
Mr. Logan is a financial manager of Sweethermanas Berhad. He is responsible for preparing the cash budget of the company for the second quarter of 2020. The company sales and forecasted sales are as follows: Sales (RM) 68,000 70,000 80,000 85,000 90,000 108,000 Month February March April May June July The customer pays cash for 20 percent of sales in the month of sales, and the balance is credit sales. Forty (40) percent will be collected a month after sales, and another 40 percent will be collected two (2) months after-sales. Purchases of raw materials 60 percent of sales and are made one month in advance of the sale. The supplier is paid 100 percent in the month of the following purchase. The monthly fixed expense is RM10,800.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Calculate total cash receipts for April 2020
![Answer the following questions based on the given data.
Mr. Logan is a financial manager of Sweethermanas Berhad. He is responsible for preparing the cash budget of the company for the second quarter of 2020. The
company sales and forecasted sales are as follows:
Sales (RM)
68,000
70,000
80,000
85,000
90,000
108,000
Month
February
March
April
May
June
July
The customer pays cash for 20 percent of sales in the month of sales, and the balance is credit sales. Forty (40) percent will be collected a month after sales, and
another 40 percent will be collected two (2) months after-sales. Purchases of raw materials 60 percent of sales and are made one month in advance of the sale. The
supplier is paid 100 percent in the month of the following purchase. The monthly fixed expense is RM10,800.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa65e66d7-45f2-41de-a502-9a100aa07a52%2Ffafaf624-e0ef-4c54-80b7-5485cf1ec461%2F4psv3kf_processed.png&w=3840&q=75)
Transcribed Image Text:Answer the following questions based on the given data.
Mr. Logan is a financial manager of Sweethermanas Berhad. He is responsible for preparing the cash budget of the company for the second quarter of 2020. The
company sales and forecasted sales are as follows:
Sales (RM)
68,000
70,000
80,000
85,000
90,000
108,000
Month
February
March
April
May
June
July
The customer pays cash for 20 percent of sales in the month of sales, and the balance is credit sales. Forty (40) percent will be collected a month after sales, and
another 40 percent will be collected two (2) months after-sales. Purchases of raw materials 60 percent of sales and are made one month in advance of the sale. The
supplier is paid 100 percent in the month of the following purchase. The monthly fixed expense is RM10,800.
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