Maple Co. manufactures smartphones. The following unit sales are budgeted for the first six months...
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Accounting
Maple Co. manufactures smartphones. The following unit sales are budgeted for the first six months of 2022:
|
| January | February | March | April | May | June |
| Sales (in units) | 250,000 | 255,000 | 258,000 | 260,000 | 262,000 | 265,000 |
The selling price of the product is $700. All sales are on credit, and of the credit sales, 15% are collected in the month of sale, 60% are collected during the first month after the sale, and the remaining 25% are collected during the second month after the sale. Company policy calls for the ending finished goods inventory of a month to equal 40% of the next month's budgeted unit sales. The budgeted units of production for April is
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