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How much are budgeted cash collections for the third quarter

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DyanChrome estimates its sales at 12,000 units in the first quarter with an increase by 600 units each quarter over the year. It desires an ending inventory of finished goods equal to 20% of the next quarter's sales. Each unit sells for $30. Forty percent of sales are on account, with the remainder being cash sales. Credit customers pay 90% during the quarter the sale was made and the balance during the following quarter.

1. How much are budgeted cash collections for the third quarter?

a. $395,280

b. $380,160

c. $356,400

d. $396,000

2. Production in units for the third quarter should be budgeted at

a. 13,080

b. 13,320

c. 15,760

d. 12,600

How do you find these answers?

Reference no: EM131774320

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