Manhattan Company's sales budget is presented below. Budgeted unit sales Sales price Sales revenue $132.150 July...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Manhattan Company's sales budget is presented below. Budgeted unit sales Sales price Sales revenue $132.150 July $120.000 $126,750 $66,000 August September October 16,000 15,000 12,000 $160.000 $150.000 $120.000 $140.000 Historically, 10% of sales are cash sales. The remaining 90% are credit sales of the credit sales amount, 50% are collected in the month of sale, 45% are collected in the month following the sale, and 5% are uncollectible. Based on this pattern, how much cash will Manhattan collect in September? 14,000 $10.00 $10.00 $10.00 $10.00 Manhattan Company's sales budget is presented below. Budgeted unit sales Sales price Sales revenue $132.150 July $120.000 $126,750 $66,000 August September October 16,000 15,000 12,000 $160.000 $150.000 $120.000 $140.000 Historically, 10% of sales are cash sales. The remaining 90% are credit sales of the credit sales amount, 50% are collected in the month of sale, 45% are collected in the month following the sale, and 5% are uncollectible. Based on this pattern, how much cash will Manhattan collect in September? 14,000 $10.00 $10.00 $10.00 $10.00
Expert Answer:
Answer rating: 100% (QA)
Answer 126750 will be collected in the month of September Pleas... View the full answer
Related Book For
Principles of Cost Accounting
ISBN: 978-1305087408
17th edition
Authors: Edward J. Vanderbeck, Maria Mitchell
Posted Date:
Students also viewed these accounting questions
-
What revenue category(ies) can be added to this account of revenue to reflect the new economy (how business is conducted) and new technologies? REVENUE MCA # 100 Preseason Account 110 Advertising and...
-
Presented below are selected transactions for Norlan Company during September and October of the current year. Norlan uses a perpetual inventory system. Sept. 1 Purchased merchandise on account from...
-
A firm is producing 10,000 units of output. Price at this output level is $16.00 for each unit, and marginal revenue is $13.00. The average per unit cost is $12.00, and the marginal cost is $12.50....
-
Rewrite these sentences to eliminate buzzwords and figures of speech. A. Also, through SCMC and by also gaining a membership in ISM, certification opportunities will be at your fingertips. B. The...
-
Does the fine print in any of the ads make them any more or less acceptable? If so, which blocks of fine print influence your assessment of the ad?
-
The hydrogen spectrum has a red line at 656 nm and a blue line at 434 nm. What are the angular separations between these two spectral lines obtained with a diffraction grating that has 4 500...
-
Discuss the ways in which a salesperson can attempt to identify buyer needs.
-
Lance Prating is the controller of the Colorado Springs manufacturing facility of Prudhom Enterprises, Inc. The annual cost control report is one of the many reports that must be filed with corporate...
-
Golden Corporation's current year income statement, comparative balance sheets, and additional information follow. For the year, (1) all sales are credit sales, (2) all credits to Accounts Receivable...
-
Affordable Electronics Inc. manufactures medium-quality, reasonably priced wireless speakers for home use. The company uses standards to control its costs. The labour standards that have been set for...
-
1) The following is a post-closing trial balance for the Sepia Paint Corporation at December 31, 2023, the end of the company's financial yecar: |Credits Account title Cash Accounts receivable...
-
Which of the following is a determinant of demand? a. Technology changes b. Changes in income levels c. Price of substitute goods d. Price expectations
-
Profit is another word for revenue. True or False
-
Which of the following tracks the prices of goods and resources sellers use to create their products? a. GDP b. CPI c. PPI d. GNP
-
Identity theft is mainly a problem for senior citizens. True or False
-
The supply chain is the process by which products, information, and money move between a supplier and the consumer. True or False
-
What did the Emergency Banking Act allow the government to do?
-
6. (Potential Energy and Conservation of Energy) What should be the spring constant k of a spring designed to bring a 1200-kg car to rest from a speed of 95 km/h so that the occupants undergo a...
-
Venezuela Oil Inc. transports crude oil to its refinery where it is processed into main products gasoline, kerosene, and diesel fuel, and by-product base oil. The base oil is sold at the split-off...
-
On December 1, Carmel Valley Production Inc. had a work in process inventory of 1,200 units that were complete as to materials and 50% complete as to labor and overhead. December 1 costs follow:...
-
The chief executive officer of Acadia, Inc. attended a conference in which one of the sessions was devoted to variable costing. The CEO was impressed by the presentation and has asked that the...
-
Refer to the Example 4. Use calculus to obtain the location of the estimated maximum yield when all terms are included in the model. Data From Example 4 EXAMPLE 4 A response surface design to...
-
MINITAB response surface analysis We illustrate the commands for the coating data in Example 4 where yield is the response. Start with the Run, Additive, Temperature, Yield in C1-C4. Dialog box:...
-
The response variable \(Y_{i j}\) in a \(2^{2}\) design can also be expressed as a regression model \[Y_{i j}=\mu+\beta_{1} x_{1}+\beta_{2} x_{2}+\beta_{12} x_{1} x_{2}+\varepsilon_{i j}\] where the...
Study smarter with the SolutionInn App