Shadee Corp. expects to sell 570 sun visors in May and 310 in June. Each visor sells for $10. Shadee's beginning and ending finished goods inventories for May are 65 and 55 units, respectively. Ending finished goods inventory for June will be 70 units. It expects the following unit sales for the third quarter: July August September 560 460 470 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 39 percent is collected during the following month, and 9 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.) August September Total Cash Receipts

Shadee Corp. expects to sell 570 sun visors in May and 310 in June. Each visor sells for $10. Shadee's beginning and ending finished goods inventories for May are 65 and 55 units, respectively. Ending finished goods inventory for June will be 70 units. It expects the following unit sales for the third quarter: July August September 560 460 470 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 39 percent is collected during the following month, and 9 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.) August September Total Cash Receipts

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Why are the cash flows so difficult to estimate accurately?
How can we obtain the Cash flow from financing activities?
Why is cash management important?
What is the traditional cash equivalency approach used to determine how below-market-rate loans affect value?
How can we identify Cash Inflows and Outflows?
fly discuss the following 1. What are advantage and disadvantages of cash method and accrual method? Explain
what apposing goals must be achieved in cash management?
What might RR do to reduce its target cash balance without harming operations?
What are the key factors that can lead to an under/overstatement of the cash balance
How can I find cash provided by operations?
Explain different methods for cash transactions and the costs associated with each. How these costs can be reduced? (Provide examples to support your justifications)
Explain in detail with examples of different methods for cash transactions, and the costs associated with each. Provide brief justification on how these costs can be reduced?