Shadee Corp. expects to sell 510 sun visors in May and 410 in June. Each visor sells for $17. Shadee’s beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 60 units.   It expects the following unit sales for the third quarter:       July 515 August 490 September 420     Sixty percent of Shadee’s sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 36 percent is collected during the following month, and 12 percent is never collected.   Required: Calculate Shadee’s total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.)       August  September  Total Cash receipts

Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter22: Master Budget (master)
Section: Chapter Questions
Problem 1R: Ranger Industries has provided the following information at June 30: Other information: Average...
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Shadee Corp. expects to sell 510 sun visors in May and 410 in June. Each visor sells for $17. Shadee’s beginning and ending finished goods inventories for May are 85 and 55 units, respectively. Ending finished goods inventory for June will be 60 units.

 

It expects the following unit sales for the third quarter:

 

   
July 515
August 490
September 420
 

 

Sixty percent of Shadee’s sales are cash. Of the credit sales, 52 percent is collected in the month of the sale, 36 percent is collected during the following month, and 12 percent is never collected.

 

Required:

Calculate Shadee’s total cash receipts for August and September. (Do not round your intermediate calculations. Round your answers to the nearest whole dollar.)

 

 

  August  September 
Total Cash receipts     
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