The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year.
Budgeted units sales: first quarter 17,900, second quarter 16,900, third quarter 15,900, forth quarter 16,900
The selling price of the company’s product is $31.00 per unit. Management expects to collect 85% of sales in the quarter in which the sales are made and 10% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $85,000.
The company expects to start the first quarter with 5,100 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter’s budgeted sales. The desired ending finished goods inventory for the fourth quarter is 5,300 units.
Compute the company’s total sales.
Total sales: 1st quarter ?, 2nd quarter ?, 3rd quarter ?, 4th quarter ?, year $?
1st quarter sales = 17900 * 31$ = $554900
2nd quarter sales = 16900 * 31$ =$523900
3rd quarter sales = 15900 * 31$ = $492900
4th quarter sales = 16900 * 31$ =$523900
Total sales = $2095600
Note - I think maybe the question is incomplete.only sales is asked.
The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal...
The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year. Budgeted unit sales First Quarter 17,900 Second Quarter 16,900 Third Quarter 15,900 Fourth Quarter 16,900 The selling price of the company's product is $31.00 per unit. Management expects to collect 85% of sales in the quarter in which the sales are made and 10% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable,...
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