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Question - Schedule of Cash Collections of Accounts Receivable - OfficeMart Inc. has "cash and carry" customers and credit customers. OfficeMart estimates that 30% of monthly sales are to cash customers, while the remaining sales are to credit customers. Of the credit customers, 20% pay their accounts in the month of sale, while the remaining 80% pay their accounts in the month following the month of sale. Projected sales for the next three months are as follows:
October $115,000
November 144,000
December 210,000
The Accounts Receivable balance on September 30 was $77,000.
Required - Prepare a schedule of cash collections from sales for October, November, and December.
Compute the cost and efficiency variances for direct materials and direct labor. Does the pattern of variances suggest All-Star ?Fender's managers have
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