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: July August September 575 460 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the 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 whole dollar. Total Cash Receipts August September
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: July August September 575 460 450 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the 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 whole dollar. Total Cash Receipts August September
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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:
July
August
September
575
460
450
Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of
the 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 whole
dollar.
Total Cash Receipts
August
September](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F50a4e29c-d143-4c76-900b-26f418773970%2F6c938794-fae4-4d30-8e8f-1903a1161d70%2Frj6ez6j_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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:
July
August
September
575
460
450
Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of
the 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 whole
dollar.
Total Cash Receipts
August
September
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