Alpha Company is preparing its cash budget for the month of May. The

company estimated credit sales for May at $200,000. Actual credit sales for April were $150,000. Estimated collections in May for credit sales in May are 20%.  Estimated collections in May for credit sales in April are 70%. Estimated Collections in May for credit sales prior to April are $12,000. Estimated write-offs in May for uncollectible credit sales are $8,000. Estimated provision for bad debts in May for credit sales in May are $7,000. What are the estimated cash receipts from accounts receivable collections in May

Alpha Company has provided projected information as follows:
Net sales                                               $10,000
Fixed manufacturing costs     $1,000
Additionally, Alpha has experienced a variable manufacturing costs of 45% of net sales and sees not changes during the budget period. Alpha expects that there will be no changes to any inventory values. Use this information to determine Alpha’s: . (Round & enter final answers to: the nearest whole dollar for total dollar answers, nearest penny for unit costs or nearest whole number for units)
1. Budgeted Cost of Goods Sold
2. Budgeted Gross Profit