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Prepare a cash inflows schedule for the third quarter

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Reference no: EM133061986

Question - XYZ Corporation is preparing a master budget for 2020. Sales for the year are expected to total 1,200,000 units. Quarterly sales in units are 20%,25%,30%, and 25% respectively. The sales price is expected to be $50 per unit for the first 3 quarters and $55 per unit beginning in the fourth quarter.

Sales in the first quarter of 2021 are expected to be 10% higher than the budgeted sales volume for the first quarter of 2020.

Cash collections from sales are 60% in the quarter of sale, 30% in the following quarter and 8% in the second quarter after sale.

Prepare a cash inflows schedule for the third quarter 2020?

Reference no: EM133061986

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