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Lighting Inc.s sales budget showed the following projections, by quarter, for the coming year: Units Quarter First Second ThBracken Corporation is a small wholesaler of gourmet food products. Data regarding the stores operations follow: · Sales areBalance Sheet October 31 Assets Cash $47,000 Accounts receivable, net of allowance for uncollectible accounts 95,000 MerchandExpected cash collections in December are: Multiple Choice o О) $189,000 o $264,400 o $270,000 o $75,400

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Answer #1

(1)

for second quarter,

units to be produced = budgeted sales + ending finished goods inventory - beginning finished goods inventory

= 120000 + (140000 x 10%) - ($120000 x 10%)

= 120000 + 14000 - 12000

= 122000

(2)

cash collection in December = cash collected for December sales + cash collected for November sales

= ($270000 x 70%) + ($260000 x 29%)

= $189000 + $75400

= $264400

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