Ask Question
29 July, 03:41

2) Sirignano Corporation produces and sells one product. The budgeted selling price per unit is $84. Budgeted unit sales for October, November, December, and January are 8,400, 12,000, 13,800, and 14,300 units, respectively. All sales are on credit with 40% collected in the month of the sale and 60% in the following month. The expected cash collections for November is closest to: A) $826,560 B) $705,600 C) $423,360 D) $403,200

+2
Answers (1)
  1. 29 July, 03:45
    0
    Collection on November 826560

    Explanation:

    We have a portion of current month sales 40%

    and the remainder of the previous month 60%

    November collection:

    Current month

    40% November 12,000*84*40% = 403,200

    Previous month

    60% October 8,400*84*60%=423,360

    Total collection on November 826560
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “2) Sirignano Corporation produces and sells one product. The budgeted selling price per unit is $84. Budgeted unit sales for October, ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers