ZuoTi.Pro
Question

Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted...

Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted Sales... $140,000 $150,000 $170,000 $130,000 Twenty five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 41% of a month's credit sales are collected in the month of sale, 32% are collected in the month following sale, and 7% are collected in the second month following sale. The remainder are uncollectible. Given these data, cash collections for December should be: Select one: a. $121,150.00 b. $88,650.00 c. $150,700.00 d. $370,000.00

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1
December
Cash sales (130000*25%) $32,500
Cash received from December credit sales (130000*75%*41%) 39975
Cash received from November credit sales (170000*75%*32%) 40800
Cash received from October credit sales (150000*75%*7%) 7875
Cash collections for December $121,150

Option a. is correct answer.

1 0
Add a comment
Know the answer?
Add Answer to:
Zinger Corporation has budgeted sales over the next four months below: September October November December Budgeted...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Budgeted sales in Washburn Company over the next four months are given below: September October November...

    Budgeted sales in Washburn Company over the next four months are given below: September October November December Budgeted sales $100,000 $160,000 $180,000 $120,000 Twenty-five percent of the company's sales are for cash and 75% are on account. Collections for sales on account follow a stable pattern as follows: 50% of a month's credit sales are collected in the month of sale, 30% are collected in the month following sale, and 15% are collected in the second month following sale. The...

  • Marple Company's budgeted production in units and budgeted raw materials purchases over the next three months...

    Marple Company's budgeted production in units and budgeted raw materials purchases over the next three months are given below: February January 60,000 March 100,000 Budgeted Production (in Units) Budgeted Raw Materials: Purchases (in Kilograms) 129,000 165,000 188,000 Two kilograms of raw materials are required to produce one unit of product. The company wants raw materials on hand at the end of each month equal to 30% of the following month's production needs. The company is expected to have 36,000 kilograms...

  • ZZ, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales...

    ZZ, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales in Units July 7,700 units August 8,300 units September 5,400 units October 10,200 units November ?????? units December 11,700 units The selling price is $18 per unit. 30% of the company's sales are cash sales and 70% of the company's sales are made on account. The sales on account are collected in the pattern 15% in the month of sale, 20% in the month...

  • Scottsdale Co. has actual sales for July and August and forecast sales for September October, November,...

    Scottsdale Co. has actual sales for July and August and forecast sales for September October, November, and December as follows: $ 98,900 105,200 Actual: July August Forecast September October November December 114,200 94,300 121, 3ee 107,400 Based on past experience, it is estimated that 28% of a month's sales are collected in the month of sale, 49% are collected in the month following the sale, and 6% are collected in the second month following the sale. Required: Calculate the estimated...

  • zz, Inc. has budgeted sales in units for the next six months as follows: July August...

    zz, Inc. has budgeted sales in units for the next six months as follows: July August September October November December Budgeted Sales in Units 4,400 units 7,200 units 6,900 units 8,600 units ????? units 7,900 units All sales are made on account. The selling price is $23 per unit. The sales are collected in the pattern 11% in the month of sale, 24% in the month following sale, 57% in the second month following sale, and the final 8% is...

  • Kennedy Enterprises has budgeted sales for the months of September and October at $190,000 and $150,000,...

    Kennedy Enterprises has budgeted sales for the months of September and October at $190,000 and $150,000, respectively. Monthly sales are 80 % credit and 20 % cash. Of the credit sales, 10 % are collected in the month of sale and 90 % are collected in the following month. What are the October cash collections from customers? A. $153,200 O B. $148,800 O C. $178,800 O D. $42,000

  • Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November,...

    Scottsdale Co. has actual sales for July and August and forecast sales for September, October, November, and December as follows: Actual: July $ 97,300 August 105,300 Forecast: September 114,800 October 94,300 November 122,900 December 106,300 Based on past experience, it is estimated that 29% of a month’s sales are collected in the month of sale, 48% are collected in the month following the sale, and 9% are collected in the second month following the sale. Required: Calculate the estimated cash...

  • Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000...

    Harrti Corporation has budgeted for the following sales: July August September October November December $448,000 $583,000 $616,500 $891,500 $ 745,000 $705,000 Sales are collected as follows: 10% in the month of sale; 60% in the month following the sale; and the remaining 30% in the second month following the sale. In Harrti's budgeted balance sheet at December 31, at what amoun will accounts receivable be shown?

  • Data Regarding Ballard Corporation's are listed below: -Sales are budgeted at 25,000 units for November;25,000 units...

    Data Regarding Ballard Corporation's are listed below: -Sales are budgeted at 25,000 units for November;25,000 units for December; 24,000 for January; and 22,000 for February. -Collections are expected to be 40% in the month of the sale; 59% in the month following the sale; and 1% uncollectible -Each unit is sold for $11.00 -The company desires an ending finished goods inventory equal to 30% of the following months sales -The November beginning balance in the accounts receivable account is $100,000...

  • zz, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales...

    zz, Inc. has budgeted sales in units for the next six months as follows: Budgeted Sales in Units July 4,400 units 7,200 units August September 6,900 units October 8,600 units ????? units November December 7,900 units All sales are made on account. The selling price is $23 per unit. The sales are collected in the pattern 11% in the month of sale, 24% in the month following sale, 57% in the second month following sale, and the final 8% is...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT