Smarty Partners projected sales and production in units for the coming year as follows: Production...
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Accounting
Smarty Partners projected sales and production in units for the coming year as follows: Production 65,00055,00055,000 Cash-related production costs are budgeted at $7 per unit produced. Of these production costs. 40% are paid in the month in which they are incurred and the balance in the following month. Selling and administrative expenses will amount to $110,000 per month. The accounts payable balance on March 31 totals $193.000. which will be paid in April. Typically 20% are cash sales and the rest are on credit. The sales price is $10 each Cash collections from credit sales are budgeted at 60% in the month of 5 alc. 35% in the month following the month of sale. The remaining 5% is never collected (bad debts expense Accounts receivable on March 31 was $149,000 What is ending budgeted Accounts Receivable at the end of June
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