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  3. a. spring corp's sales budget shows quarterly sale

a. Spring Corp's sales budget shows quarterly sales for the next year as follows: Quarter...

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Accounting

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a. Spring Corp's sales budget shows quarterly sales for the next year as follows: Quarter First Second Third Fourth Sales (Units) 10,000 8,000 12,000 14,000 Company policy is to have a finished goods inventory at the end of each quarter equal to 20% of the next quarter's sales. Required: Calculate Spring Corp's budgeted production for the second quarter b. Wood Company produces a variety of wood related products. The following are the cash receipts and disbursement schedule for Wood Company in the month of August, 2021: Management expects to sell 7,500 units of products in July and 9,200 units in August. Each unit sells for $ 12. Cash sales average 30% of total sales, and credit sales make up the rest. On average, 4 of credit sales are collected in the month of sale, with the balance collected the following month. The company expenses $ 5,000 per month for insurance. The insurance premium is paid semiannually in September and March. The company pays commissions and other expenses of $ 4,200 per month A depreciation expense of $ 4,500 is recognized each month Wood declares $ 100,000 in cash dividend to be paid on August 31 Required: Calculate the net cash at the end of August prior to any financing

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