## [solution]: 2. Imagine a hypothetical scenario in which you are trying to

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Hello, I need help with solving these three problems.       Please show work for all three

Cash receipts from Credit Sales

1. Many of your customers buy on credit (i.e., part of sales revenue is collected several months after the sale).
On average, you collect 60% of revenue in the month of sale, 35% of revenue in the following month, and 5% of revenue 2 months later.

What are your cash inflows in May?

Month        Sales

March         \$150

April           \$100

May            \$ 130

Cash receipts from Credit Sales

2. Jays store budgeted sales are as follows

Jan       \$150,000

Feb     \$160,000

Mar    \$172,000

The company expects to collect 75% of a month?s sales in the month of sale and 25% in the following month.

What are the cash receipts for February?

Sales price/ volume variance using direct formulas

3.

Budgeted sales price is \$10, actual is \$12.

Budgeted sales volume is 2,500 units, actual is 2,400 units.

Budgeted unit VC is \$5, actual is \$6.

Compute sales volume variance and sales price variance?

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This question was answered on: Dec 18, 2020

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