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klasskru [66]
3 years ago
5

Morganton Company makes one product and it provided the following information to help prepare the master budget:

Business
1 answer:
TiliK225 [7]3 years ago
8 0

Answer:

1. $1,540,000

2. $998,200

3. $924,000

Explanation:

1. The computation of the budgeted sales for July is shown below:-

Budgeted sales for July = Number of units × Sale price

= 22,000 × $70

= $1,540,000

2. The computation of expected cash collections for July is shown below:-

Expected cash collection for July = June accounts receivables + July cash sales

= (9,100 × $70 × 60%) + (22,000 × $70 × 40%)

= $998,200

3. The computation of the accounts receivable balance at the end of July is shown below:-

Accounts receivable for July = Number of units × Sale price  × Budgeted selling price per unit

= 22,000 × $70 × 60%

= $924,000

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3 years ago
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Answer:

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3 years ago
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