Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations:
The expected cash collections for May is closest to:
Multiple Choice
$950,000
$262,500
$1,022,500
$760,000
Expected cash collections for May = (10,500*125*20%) + (7600*125*80%) = 262,500 + 760,000 = 1,022,500 Option C is the answer |
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Michard Corporation makes one product and it provided the following information to help prepare the master...
Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month. The ending finished goods inventory equals 20% of...
Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit. Regarding credit sales, 20% are collected in the month of the sale and 80% in the following month. The ending finished goods inventory equals 20% of...
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of...
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of...
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of...
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 30% of...
Petrini Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $110. Budgeted unit sales for January, February, March, and April are 7,500, 10,600, 12,000, and 11,700 units, respectively. All sales are on credit. b. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory...
TB MC Qu. 8-106 Michard Corporation makes one product and ... Michard Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: The budgeted selling price per unit is $125. Budgeted unit sales for April, May, June, and July are 7,600, 10,500, 13,800, and 12,900 units, respectively. All sales are on credit. Regarding credit sales, 20% are collected in the month of the sale and 80% in...
Rokosz Corporation makes one product and it provided the following information to help prepare the master budget for the next four months of operations: a. The budgeted selling price per unit is $104. Budgeted unit sales for October, November, December, and January are 6,900, 7,100, 11,300, and 15,300 units, respectively. All sales are on credit b. Regarding credit sales, 30% are collected in the month of the sale and 70% in the following month. C. The ending finished goods inventory...
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 8,200, 13,000, 15,000, and 16,000 units, respectively. All sales are on credit. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The...