Shadee Corporation expects to sell 500 sun shades in May and 440 in June. Each shades sells for$19. Shadee's beginning and ending finished goods inventories for May are 75 and 45 shades,respectively. Ending finished goods inventory for June will be 70 shades.It expects the following unit sales for the third quarter:JulyAugustSeptember575460450Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month ofthe sale, 39 percent is collected during the following month, and 7 percent is never collected.Required:Calculate Shadee's total cash receipts for August and September.Note: Do not round your intermediate calculations. Round your answers to the nearest wholedollar.Total Cash ReceiptsAugustSeptember

CASH BUDGET A cash budget is an estimation of the cash flows of a business over a specific period of…

Answered: Shadee Corporation expects to sell 500…

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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MAXI Co. has the following information: *Projected sales for four (4) months are as follows: July-20,000 units; August -35,000 units ; September-25,000; October-30,000. Sales price per unit is $180 *Plans are to have a finished goods inventory end equal to 20% of the unit sales for next month. There was 4,000 units in beginning inventory on July 1. *Three (3) kilos of materials are required per unit produced. Every kilo of material is $20. Raw material inventory must be equal to 30% of the next month's needs . Desired ending inventory for September is 25,200 kilos and beginning inventory was 20,700 kilos. *Each unit requires 0.60 hours of direct labor and the average wage rate is $16 per hour. *Variable overhead rate is $3.50 per direct labor hour. There is also a fixed overhead of $22,000 per month. *The company pays 3% commission on sales. *Company has a monthly fixed and selling expenses as follows: Rent-$6,000 ; Utilities-$1,200 ; Advertising-$400: Office Salaries-$35,000.…
Shadee Corporation expects to sell 590 sun shades in May and 360 in June. Each shades sells for $15. Shadee's beginning and ending finished goods inventories for May are 80 and 50 shades, respectively. Ending finished goods inventory for June will be 60 shades. It expects the following unit sales for the third quarter. July August September 545 450 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale. 40 percent is collected during the following month, and 8 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. Total Cash Receipts August September
Shadee Corporation expects to sell 590 sun shades in May and 360 in June. Each shades sells for $15. Shadee's beginning and ending finished goods inventories for May are 60 and 45 shades, respectively. Ending finished goods inventory for June will be 55 shades. It expects the following unit sales for the third quarter: July August September 545 500 470 Sixty percent of Shadee's sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 38 percent is collected during the following month, and 10 percent is never collected. Required: Calculate Shadee's total cash receipts for August and September. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. August September Total Cash Receipts

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