Luchini 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 accounts receivable balance at the end of May is closest to:
Multiple Choice
$448,440
$672,660
$747,000
$1,121,100
Budgeted Sales in May = 10100*111 = 1121100
Budgeted account receivable at the end of May = 1121100*60% = 672660
So answer is b) $672660
Luchini Corporation makes one product and it provided the following information to help prepare the master budget for th...
41) Luchini 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 $111. Budgeted unit sales for April, May, June, and July are 7,100, 10, 100, 13,300, and 14,000 units, respectively. All sales are on credit. b. Regarding credit sales, 40% are collected in the month of the sale and 60% in the following month. C. The ending finished...
Luchini 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 $111. Budgeted unit sales for April, May, June, and July are 7,100, 10,100, 13,300, and 14,000 units, respectively. All sales are on credit. b. Regarding credit sales, 40% are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 10% 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...
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...
Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $70. Budgeted unit sales for June. July. August, and September are 9.100. 22,000, 24,000, and 25,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 20% of the following month's unit sales. d. The...
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...
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,200, 12,000, 14,000, and 15,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The...
Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted selling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,200, 12,000, 14,000, and 15,000 units, respectively. All sales are on credit. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. The ending finished goods inventory equals 20% of the following month’s unit sales. The...