Question

Front Page Video Games Corporation has forecasted the following monthly sales: 

 

January		$99,000	July		$44,000
February		92,000	August		44,000
March		24,000	September		54,000
April		24,000	October		84,000
May		19,000	November		104,000
June		34,000	December		122,000
Total sales = $744,000

 

The firm sells its Last Spike video game for $5 per unit, and the cost to produce the game is $2 per unit. A level production policy is followed. Each month's production is equal to annual sales (in units) divided by 12.

 

Of each month's sales, 20 percent are for cash and 80 percent are on account. All accounts receivable are collected in the month after the sale is made.

 

a. Construct a monthly production and inventory schedule in units. Beginning inventory in January is 24,000 units. (Note: To do part a, you should work in terms of units of production and units of sales.)
 

 

Front Page Video Games Corporation
Production and inventory schedule in units
	Beginning inventory	+	Production	–	Sales	=	Ending inventory
January	24,000	+		–		=
February		+		–		=
March		+		–		=
April		+		–		=
May		+		–		=
June		+		–		=
July		+		–		=
August		+		–		=
September		+		–		=
October		+		–		=
November		+		–		=
December		+		–		=

b. Prepare a monthly schedule of cash receipts. Sales in the December before the planning year were $100,000. Work part b using dollars.

  

Front Page Video Games Corporation
	January	February	March	April	May	June
Sales	$	$	$	$	$	$
Cash sales	Next > < Previous Sort answers by oldest Votes Oldest Newest Homework Answers Request Professional Answer Request Answer! We need at least 5 more requests to produce the answer. 5 / 10 The more requests, the faster the answer. Request! All students who have requested the answer will be notified once they are available. Know the answer? Add Answer to: Business Finance Your Answer: Post as a guest Your Name: What's your source? Earn Coins Log In Sign Up Post as anonymous Post Your Answer Similar Homework Help Questions Bombs Away Video Games Corporation has forecasted the following monthly sales S 99,000 July $ 44,000... Bombs Away Video Games Corporation has forecasted the following monthly sales S 99,000 July $ 44,000 44,000 54,000 84,000 104,000 122,000 January February March ril May June 92,000 August 24,000September 24,000 October 19,000 November 34,000 December Total annual sales $744,000 Bombs Away Video Games sells the popular Strafe and Capture video game. 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