Shadee Corporation expects to sell 510 sun shades in May and 350 in June. Each shades sells for $13. Shadee's beginning and ending finished goods inventories for May are 65 and 50 shades, respectively. Ending finished goods inventory for June will be 50 shades. It expects the following unit sales for the third quarter: July August September 560 480 460 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. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. August September Total Cash Receipts _
Shadee Corporation expects to sell 510 sun shades in May and 350 in June. Each shades sells for $13. Shadee's beginning and ending finished goods inventories for May are 65 and 50 shades, respectively. Ending finished goods inventory for June will be 50 shades. It expects the following unit sales for the third quarter: July August September 560 480 460 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. Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar. August September Total Cash Receipts _
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Vishnu
Transcribed Image Text:Shadee Corporation expects to sell 510 sun shades in May and 350 in June. Each shades sells for $13. Shadee's beginning and ending
finished goods inventories for May are 65 and 50 shades, respectively. Ending finished goods inventory for June will be 50 shades.
It expects the following unit sales for the third quarter:
July
August
September
560
480
460
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.
Note: Do not round your intermediate calculations. Round your answers to the nearest whole dollar.
Total Cash Receipts
August
September
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