The marketing department of Graber C upcoming fiscal year. has submitted the fol

Question

The marketing department of Graber C upcoming fiscal year. has submitted the following sales forecast for the First Quarter Second Quarter Third Quarter Fourth Quarter 16,600 Budgeted unit sales 17,600 16,600 15,600 The selling price of the company's product is $36.00 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 $82,000 The company expects to start the first quarter with 4,800 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending goods in for the fourth quarter is 5,000 units. Required: 1-a. Compute the company's total sales. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total Sales

Explanation / Answer

1-a.

1-b.

2.

Graber Corporation Schedule of Total Sales 1st Quarter 2ndQuarter 3rd Quarter 4th Quarter Year Budgeted unit sales 17,600 16,600 15,600 16,600 66,400 Selling price per unit $36.00 $36.00 $36.00 $36.00 $36.00 Total Sales $633,600 $597,600 $561,600 $597,600 $2,390,400

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.