RECOMMENDED!!The controller of Harrington Company estimates sales
The controller of Harrington Company estimates sales and production for the first four months of 2016 as follows:JanuaryFebruaryMarchAprilSales$33,000$43,200$54,500$25,800Production in units1,1601,6202,0602,660Sales are 40% cash and 60% on account, and 60% of credit sales are collected in the month of the sale. In the month after the sale, 40% of credit sales are collected. It takes 4 kg of direct material to produce a finished unit, and direct materials cost $5 per kg. All direct materials purchases are on account, and are paid as follows: 40% in the month of the purchase, 60% the following month. Ending direct materials inventory for each month is 40% of the next month’s production needs.January’s beginning materials inventory is 1,856 kg. Suppose that both accounts receivable and accounts payable are zero at the beginning of January.Answer the following questions:(a)What are the total cash sales for the January-March quarter?
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