Homework Answers
A. $24,750
Calculation:
| Month | Total Sales | Percentage of Cash Sales |
Amount of Cash Sales = (Total Sale X Percent of Cash Sales) |
| January | 26,400.00 | 30% | 7,920.00 |
| February | 23,100.00 | 30% | 6,930.00 |
| March | 33,000.00 | 30% | 9,900.00 |
| Total Cash Sale during Jan - Mar quarter | 24,750.00 |
Cash Sales are the sales that are made against Cash only. Since, the cash sales are 30% for respective months, hence, 30% of sales would be reckoned as Cash Sales.
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The controller of Harrington Company estimates sales and
production for the first four months of 2016 as follows:
January
February
March
April
Sales
$30,900
$40,400
$53,600
$25,400
Production in units
1,150
1,680
2,000
2,630
Sales are 40% cash and 60% on account, and 60% of credit sales are
collected in the month of the sale. In the month after the sale,
40% of credit sales are collected. It takes 4 kg of direct material
to...
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