In-class exercise (Problem 9-19)_March 23_Janus Products

In-class exercise (Problem 9-19)_March 23_Janus Products -...

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Janus Products (Problem 9-19)                                            a. Budgeted monthly absorption costing income statements for July–October are as follows:  1
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Sales are 20% for cash and 80% on credit.  Credit sales are collected over a three-month period with 10% collected in the month of sale, 70% in the  month following sale, and 20% in the second month following sale.  May sales totaled $30,000, and June sales totaled $36,000. % of sales that is collected in the month of sales:                      % of sales that is collected in the month following sales: % of sales that is collected in the second month following sales: July August September October Budgeted sales $40,000 $70,000 2
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$50,000 $45,000 1.Schedule of expected cash collections:     July August September Quarter  From May sales  From June sales From July sales From August  sales From Sep sales Total collections. ... Janus Products (cont’d)
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In-class exercise (Problem 9-19)_March 23_Janus Products -...

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