Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 companys 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 quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 5,300 units.

Compute the companys total sales.

Total sales: 1st quarter ?, 2nd quarter ?, 3rd quarter ?, 4th quarter ?, year $?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Employee Motivation Audit

Authors: Jane Weightman

1st Edition

0955970709, 978-0955970702

More Books

Students also viewed these Accounting questions

Question

5. List the forces that shape a groups decisions

Answered: 1 week ago

Question

4. Identify how culture affects appropriate leadership behavior

Answered: 1 week ago