Question: answer questions for a thumps up ! !! The Guitar Shoppe reports the following sales forecast: August, $190,000; and September, $170,000. Total sales include 30%

The Guitar Shoppe reports the following sales forecast: August, $190,000; and September, $170,000. Total sales include 30% cash sales, 50% of credit sales collected in the month following sale, and the remaining 20% credit sales written off as uncollectible. Prepare a schedule of cash receipts for September THE GUITAR SHOPPE Cash Receipts Budget For Month Ended September 30 Cash receipts from August sales Cash receipts from September sales Total budgeted cash receipts $ ! Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,400 units in August Each unit requires 4 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement. As of June 30, the company has 6,720 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July. MIAMI SOLAR Direct Materials Budget For Month Ended July 31 Budget production (units) 4,200 Materials needed for production (lbs.) Total materials requirements (lbs.) Materials to be purchased (lbs.) Budgeted cost of direct materials purchases
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