Pine Tree Furniture Industries manufactures wooden dining chairs. The selling price of the wooden dining chairs is $14 per unit. The company is preparing detailed budgetsfor the third quarter (Third quarter includes July, August and September) and fourth quarter (Fourth quarter includes October, November and December) and has assembledthe following information to assist in the budget preparation (see below tables). Calculate the estimated sales (in dollars) for the third quarter.Estimated unit sales for the next several monthMonthJulyAugustSeptemberOctoberNovemberDecemberUnits100200150200200300All sales are on account (i.e., on credit). These sales on account are usually collected in the following pattern:30%65%5%in the month of salein the month following saleUncollectible

Estimated sales (in dollars) for the third quarter = 6,300Explanation:Multiply the estimated unit…

Answered: Pine Tree Furniture Industries…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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