Question
In: Finance
ABC Company has the following projected sales: Month Sales Jan $5,000 Feb $14,000...
ABC Company has the following projected sales:
| Month | Sales |
| Jan | $5,000 |
| Feb | $14,000 |
| Mar | $27,000 |
| Apr | $56,000 |
14% of the sales are collected in the same month. 26% of the sales
are collected after one month, 42% of the sales are collected after
two months, and the remainder are collected after three month. What
is the amount of the April collections?
Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12,345.678 then enter as "12345.68" in the answer box.
Solutions
Expert Solution
In order to solve this question, we need to calculate the collections for each month starting from January to April, as we want the total collection for April. This could be easily calculated using Excel.
The calculation is as follows:
The formulas used are as follows:
jeff jeffy answered 1 month agoRelated Solutions
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Jan.
120
Feb.
90
Mar.
100
Apr.
75
May
110
Jun.
50
Jul.
75
Aug.
130
Sep.
110
Oct.
90
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“The Manager has projected the following costs corresponding to sales of 14,000 and 16,000 for the...
“The Manager has projected the following costs corresponding to
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16,000
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£8,000
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Materials
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Tuscarora, Inc., a merchandising company, has the following budgeted figures: Jan Feb Mar April Sales $57,300...
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Feb
Mar
April
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$60,000
$83,000
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Inventory on hand on Jan 1
$30,000
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A.
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Mar
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