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The marketing department of Kyle Corporation has submitted the following sales forecast for the upcoming fiscal year: The selling price of the company's product is
The marketing department of Kyle Corporation has submitted the following sales forecast for the upcoming fiscal year:
The selling price of the company's product is $ per unit. Management expects to collect of sales in the quarter in which the
sales are made and in the following quarter; of sales are expected to be uncollectible. The beginning balance of accounts
receivable, all of which are expected to be collected in the first quarter, is $
The company expects to start the first quarter with units in finished goods inventory. Management desires an ending finished
goods inventory in each quarter equal to of the next quarter's budgeted sales. The desired ending finished goods inventory for
the fourth quarter is units.
Required:
a Prepare the company's sales budget.
b Prepare the schedule of expected cash collections.
Prepare the company's production budget for the upcoming fiscal year.
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