Reference no: EM133187592
Question - Public Manufacturing Company (PMC) is preparing their budgeted financial statements for the coming year, and has accumulated the following data:
Beginning-of-period balances:
Cash $40,000
Accounts Receivable $50,000
Raw Materials Inventory $14,000
Work-in-Process Inventory $160,000
Finished Goods Inventory $6,000
Equipment (historical value) $200,000
Accumulated Depreciation $130,000
Accounts Payable $62,000
Estimates for end-of-period balances:
Accounts Receivable $55,000
Raw Materials Inventory $10,000
Work-in-Process Inventory $120,000
Finished Goods Inventory $5,000
Accumulated Depreciation $124,000
Accounts Payable $50,000
Budgeted activity levels for the period:
Sales 12,000 units @ a sales price of $300/unit
Purchases of Direct Materials $500,000
Direct Labor Wages $340,000
Manufacturing Overhead $1,400,000
Selling and Administrative Expenses $1,300,000
Required - What is the budgeted cash received from customers?
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