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Shadee Corporation expects to sell 590 sun shades in May and 400 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 80 and 60 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 545 470 440

Shadee Corporation expects to sell 590 sun shades in May and 400 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 80 and 60 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 545 470 440

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Shadee Corporation expects to sell 590 sun shades in May and 400 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 80 and 60 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 545 470 440 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. Total Cash Receipts August September
Transcribed Image Text:Shadee Corporation expects to sell 590 sun shades in May and 400 in June. Each shades sells for $19. Shadee's beginning and ending finished goods inventories for May are 80 and 60 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 545 470 440 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. Total Cash Receipts August September
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