Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. zhang industries sells a product for $600. unit sa

Zhang Industries sells a product for $600. Unit sales for May were 500 and each...

90.2K

Verified Solution

Question

Accounting

Zhang Industries sells a product for $600. Unit sales for May were 500 and each month's sales are expected to exceed the prior month's results by 2%. Zhang pays a sales manager a monthly salary of $4,500 and a commission of 1% of sales in dollars. Assume 35% of Zhang's sales are for cash. The remaining 65% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June.

a. 300,000

b. 302,100

c. 195,000

d. 198,900

e. 306,645

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

A rider on a Ferris wheel shown below travels at a constant speed. Is the rider’s...

Psychology
1.2K views

Identify some contemporary challenges to behavioral theories of learning and management and address concerns about their application.

Physics
1.2K views

19 The figure shown two paths for the change of state of a gas from...

Basic Math
1.2K views

If f 0 2 cos 0 cos 20 find f Do not use a calculator...

Accounting
1.2K views

TUTORIAL PROBLEM WEEK-8 Question #1 Casino Cash (CC) engages in the business of providing short...

Accounting
1.2K views

You work for ABC financial management. What are the consequences for clients of not meeting...

Accounting
1.2K views

Oxford Citys General Fund has the following net resources at year end: $681,000 total...

Accounting
1.2K views

On January 1, 2016, Bradley Recreational Products issued $130,000, 9%, four-year bonds. Interest is paid...

Accounting
1.2K views

Assume Orion Iron applies Its Inventory costing method perpetually at the time of each sale....

Finance
1.2K views

Taft Holdings is interested in purchasing Farmcorp and would like to know if the takeover...

Accounting
1.2K views

Company Z has the following optimal capital structure: The risk-free rate is 10% and the...

Accounting
1.2K views

In a periodic inventory system, the Cost of Merchandise Purchased includes the cost of freight...