Budgeted unit 12,800 13,800 15,800 14,800 The selling price of the company\'s pr

Question

Budgeted unit 12,800 13,800 15,800 14,800 The selling price of the company's product lo $27 per unit Management expects tooled 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expeded to be uncollectible. The beginning belance of acoounts reoeivable, all of which is expected to be collected in the first quarter, is $73,800 The company expects to start the first quarter with 2,560 units in finished ending finished goods inventory for the fourth quarter is 2,760 unit. 1-a.Complete the company's sales budget goods Inventory. Management desires an ending finished goods Iinventory in each quarter equal to 20% ofthenext quarter's budgeted sales. The desired Answer is complete and correct. 57,200 12,80 el 13,80?| 15,80 14,00 2 27 27 27 units sales 27 Selling price per unit Total sales ane enn 1-b. Complete the schedule of expected cash collections. Answer is complete and correct Schedule of Expected Cash Collections 1st 2nd 3rd 4th Year 73,800 s 73,800 st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales 353,970 405.270 259,7 242.1 1,421,100 Total cash collections 298,440345,870 389.070 387,720 2. Prepare the company's production budget for the upcoming fiscal year 3 Answer is not complete. ist 2nd 3rd Year 57 200 ed unit sales 2.76?| Add Desired units ofending finished goods inventory Total needs 3,1600 6,960 18,760 14.800 57200 276 3,16 2.9 e 2.96d 15,560 Less: Units of beginning finished goods inventory

Explanation / Answer

Q 1 Q 2 Q 3 Q 4 Year Budgeted Unit sales 12800 13800 15800 14800 57200 Add Desired Units of ending Finished Goods inventory 2760 3160 2960 2760 2760 Less Units of Beginning finshed goods inventory 2560 2760 3160 2960 2560 Required Production in units 13000 14200 15600 14600 57400

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