Shadee Corp. expects to sell 560 sun visors in May and 350 in June. Each...
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Shadee Corp. expects to sell 560 sun visors in May and 350 in June. Each visor sells for $11. Shadees beginning and ending finished goods inventories for May are 75 and 55 units, respectively. Ending finished goods inventory for June will be 60 units. It expects the following unit sales for the third quarter: July 560 August 480 September 440 Sixty percent of Shadees sales are cash. Of the credit sales, 54 percent is collected in the month of the sale, 35 percent is collected during the following month, and 11 percent is never collected. Required: Calculate Shadees total cash receipts for August and September.
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