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1.Parthenon, Inc. sells two products, Yo-Yos and Hula Hoops. The sales forecast in units for the first quarter of the coming year is:
Yo-Yos
Hula Hoops
January
20,000
36,000
February
28,000
60,000
March
64,000
Cash sales are 30% of each product's monthly sales. The remaining sales are credit sales that are collected as follows: 70% in the month of sale, 20% the next month, and 10% in the following month. Unit sale prices are $30 and $20 for Yo-Yos and Hula Hoops, respectively.
Determine the company's cash receipts for March from its current and past sales.
2.Lawson, Inc. is preparing its budget for the second quarter. The following sales data have been forecasted:
April
May
June
July
August
Unit sales
640
720
780
620
660
Additional information follows:
Inventory on March 31:
192 units
Desired ending inventory each month:
30% of next month's sales
How many units should be purchased in April, May, and June? How many units should be purchased in the second quarter in total?
from the balance sheetcash.............................................................30000 accounts
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