Reference no: EM132702970
Problem 1: Materials costs of $1,200,000 and conversion costs of $1,320,000 were charged to a processing department in the month of September. Materials are added at the beginning of the process, while conversion costs are incurred uniformly throughout the process. There were no units in beginning work in process, 20,000 units were started into production in September, and there were 5,000 units in ending work in process that were 30% completed at the end of September.
Petra Co. reported the following information for 2019:
October November December
Budgeted sales 688,781 818,251 $900,000
80% sales are on credit.
Customer amounts on account are collected 60% in the month of sale and 40% in the following month.
Problem 2: How much is the November 30, 2019 budgeted Accounts Receivable?
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