Multiple Choice
Zhang Industries sells a product for $700. Unit sales for May were 400 and each month's sales are expected to exceed the prior month's results by 3%.
- Zhang pays a sales manager a monthly salary of $3,000 and a commission of 2% of sales in dollars. Assume 30% of Zhang's sales are for cash. The remaining 70% are credit sales; these customers pay in the month following the sale. Compute the budgeted cash receipts for June.
A) $196,000.
B) $280,000.
C) $201,880.
D) $285,880.
E) $282,520.
Correct Answer:
Verified
Correct Answer:
Verified
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