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TabComp Inc. is a retail distributor for MZB-33 computer hardware and related software. TabComp prepares annual sales forecasts of which the first six months of the coming year are presented below.Hardware HardwareUnits Dollar Software Total SalesJanuary........130 $390000 $160000 $550000February......120 $360000 140000 500000March......... 110 $330000 150000 480000April........... 90 $270000 130000 400000May........... 100 $300000 125000 425000June........... 125 $375000 225000 600000
Cash sales account for 25% of TabComp's total sales, 30% of the total sales are paid by bank credit card, and the remaining 45% are on open account. The cash and bank credit card sale payments are received in the month of the sale. Bank credit card sales are subject to a 4% discount which is deducted immediately. The cash receipts for sales on open account are 70% in the month following the sale, 28% in the second month following the sale, and the remaining are uncollectible.TabComp's month-end inventory requirements for computer hardware units are 30% of the next month's sales. The units must be ordered two months in advance due to long lead times quoted by the manufacturer.
Required:
a. Calculate the cash that TabComp can expect to collect during April. Show all of your calculations.b. Determine the number of computer hardware units that should be ordered in January. Show all of your calculations.
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