Shadee Corp. expects to sell 560 sun visors In May and 320 In June. Each visor sells for $12. Shadee's beginning and ending finished goods Inventories for May are 75 and 45 units, respectively. Ending finished goods Inventory for June will be 60 units. It expects the following unit sales for the third quarter: July August September 515 450 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 37 percent is collected during the following month, and 11 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.)
Shadee Corp. expects to sell 560 sun visors In May and 320 In June. Each visor sells for $12. Shadee's beginning and ending finished goods Inventories for May are 75 and 45 units, respectively. Ending finished goods Inventory for June will be 60 units. It expects the following unit sales for the third quarter: July August September 515 450 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 37 percent is collected during the following month, and 11 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Subject: acounting
Transcribed Image Text:Shadee Corp. expects to sell 560 sun visors in May and 320 in June. Each visor sells for $12. Shadee's beginning and ending finished
goods Inventories for May are 75 and 45 units, respectively. Ending finished goods Inventory for June will be 60 units.
It expects the following unit sales for the third quarter:
July
August
September
515
450
450
Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 37 percent is collected
during the following month, and 11 percent is never collected.
Required:
Calculate Shadee's total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers
to the nearest whole dollar.)
Total Cash Receipts
August
September
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