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 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
Chapter7: Budgeting
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Question
![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F382f4aed-7fd6-46cb-ab45-6e234d2bc043%2Fea0ffbdf-4213-4e18-8fda-708d395d24f8%2Feg1zh7g_processed.png&w=3840&q=75)
Transcribed Image Text: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
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