Bahamas feed supply Inc, a pet wholesaler supplier was organized on March 1 2020 projected sales for each of the first three months of operations are as follows

March 450,000

April 520, 000

May 560, 000

The company expects to sell 10% of its merchandise for cash. of sales on account, 50%are expected to be collected in the month of the sale 40% in the month following the sale, and the reminder in the in the second month following the sale.

(1a)Prepare a schedule indicating cash collections for sales for March April and May.

(1b) Smell so good candle company projected sales of 95,000 candles for 2020. the estimated January 1st, 2020 inventory is 2400 units and the desired December 31st 2020 inventory is 3000 units what is the budgeted production in units for 2020.

1c Smell so good candle company budgeted production of 95,000 candles in 2020 wax is required to produce a candle assume 8 oz 1/2 of a pound of wax is required for each candle the estimated January 1st 2020 wax inventory is 1400 pounds the desired December 31st 2020 was inventory is 1100 pounds. if candle wax cost 3.60 per pound determined a direct material purchases budget for 2020.

Answer rating: 100% (QA)

March April 52000 396000 448000 1a Total Cash sales Credit sales collections Total cash collections ... View the full answer