Corp expects to sell 600 hats in May and 300 in June. Each hat sells for 10$. Co

Question

Corp expects to sell 600 hats in May and 300 in June. Each hat sells for 10$. Corps beginning and ending finished goods inventory for May are 70 and 50 units, respectivly. Ending finished goods inventory for June will be 60 units.

It expects the following unit sales for the third quarter:

July 515

August 470

September 460

60% of corps sales are cash. of the credit sales 50% are collected in the month of sale, 39% is collected the following month and 11 percent is never collected.

"Calculate Corps total cash receipt for August and september"

Explanation / Answer

August Spetember Cash sales 2820 2760 Credit sales: Same month 940 920 1 month after 803.4 733.2 Total cash receipt 4563.4 4413.2 Alternatively amounts can be rounded off and total receipts will be 4563 and 4413

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.