Homework Answers
Solution:
Cash paymrnt in the month of April = April manufacturing cost*3/4 + insurance expense for 3 months
= $158200*3/4 + $1190*3
= $122,220
Hence, option "c" is correct.
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Nuthatch Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business-September, October, and November-are $239,000, $318,000, and $420,000, respectively. The company expects to sell 30% of its merchandise for cash. Of sales on account, 80% are expected to be collected in the month of the sale and 20% in the month following the sale. The cash collections expected in October from accounts receivable are estimated...
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