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3 years ago

Shalimar Company manufactures and sells industrial products. For next year, Shalimar has budgeted the following sales:

Business

1 answer:

nikitadnepr [17]3 years ago

8 0

Answer:

Shalimar Company

Cash Sales and Credit Sales:

a) Last two quarters of the current year:

Current Year Quarter 3 Quarter 4

Budgeted Sales $4,900,000 $6,850,000

Cash (10%) 490,000 685,000

Credit (90%) 4,410,000 6,165,000

b) Each quarter of the next year:

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Budgeted

Sales $4,600,000 $5,100,000 $5,000,000 $7,600,000

Cash (10%) 460,000 510,000 500,000 760,000

Credit

Sales (90%) 4,140,000 4,590,000 4,500,000 6,840,000

Explanation:

a) Data and Calculations:

Quarter 1 Quarter 2 Quarter 3 Quarter 4

Budgeted

Sales $4,600,000 $5,100,000 $5,000,000 $7,600,000

Cash (10%) 460,000 510,000 500,000 760,000

Credit

Sales (90%) 4,140,000 4,590,000 4,500,000 6,840,000

Current Year Quarter 3 Quarter 4

Budgeted Sales $4,900,000 $6,850,000

Cash (10%) 490,000 685,000

Credit (90%) 4,410,000 6,165,000

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