1. if there were 20,000 pounds of raw materials on hand on january

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1.  If there were 20,000 pounds of raw materials on hand on January 1, 45,000 pounds are desired for inventory at January 31, and 295,000 pounds are required for January production, how many pounds of raw materials should be purchased in January?

 

2.  XYZ Company expects the following sales and collection pattern for the first four months of the year:
 

Month

Cash Sales

Credit Sales

Total Sales

January

$12,000

$23,000

$35,000

February

$8,000

$22,000

$30,000

March

$9,000

$25,000

$34,000

April

$11,000

$28,000

$39,000

 
·         5% of credit sales are collected in the same month
·         75% of sales are collected in the following month
·         15% of sales are collected in the second following month

What are the projected cash collections for the month of March?