Shadee Corporation expects to sell 550 sun shades in May and 420 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 65 and 55 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 57 480 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 35 percent is collected during the following month, and 11 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 550 sun shades in May and 420 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 65 and 55 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 57 480 430 Sixty percent of Shadee's sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 35 percent is collected during the following month, and 11 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
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