Exercise 9-2 Sales and Production Budget The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year. Budgeted unit sales First Quarter 16,000 Second Quarter Third Quarter Fourth Quarter 15,000 14,000 15,000 The selling price of the company's product is $22.00 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made and 20% 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 $66,000. The company expects to start the first quarter with 3,200 units in finished goods inventory. Managemen desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgete sales. The desired ending finished goods inventory for the fourth quarter is 3,400 units. Required: 1-a. Compute the company's total sales. Graber Corporation Sales Budget First Quarter Second Quarter Third Quarter Fourth Quarter Year 1-b. Complete the schedule of expected cash collections. Graber Corporation Schedule of Expected Cash Collections First Quarter Second Quarter Third Quarter Fourth Quarter Yea 2. Prepare the company's production budget for the upcoming fiscal year. Chapter 9 Exercise 9-2 Exercise 9-6 Exercise 9-10 +