The marketing department of Jessi Corporation has submided the following sales f
ID: 2556088 • Letter: T
Question
The marketing department of Jessi Corporation has submided the following sales forecast for the upcoming scal year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 11,000 12.000 14.900 13,900 The seling pnce ofth. company's product is S 18 per unit Management expects to colect 75% the quarter in which the sales are made. 20% in the following quarter, and 5% of aes are expected to be unoolectble. The beginning balance of accounts receivable, all of which is expected to be colected in the frst quarter, is $72,000 of sales in The company expects to start the hrst quarter with 1,785 units in fnished goods inventory. Management desires an ending finahed goods mentory n each uarter equal to 15% of thenet quarter's budgeted sales. The desired ending finished goods inventery for the fourth quarter is 1,985 units Required: 1-a Complete the company's sales budget Jessi Corporation Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted units saies Selling price per unit Total sales 1-b. Complate the schedule of expected cash collections Jessi Corporation Schedule of Expected Cash Collections 1st Quarter 2nd Quarter 3rd Qua 1st Quarter sales 2nd Quarser sales 2 Prepare the company's production budget for the upcoming fscal year Production Budget Budgeted unit Required production in units Type here to searchExplanation / Answer
Answer 1-a
Answer 1-b
Schedule of expected cash collections:
Answer 2
Company's Production Budget:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted Unit Sales 11,900 12,900 14,900 13,900 53,600 Selling Price per unit 18 18 18 18 18 Total Sales 2,14,200 2,32,200 2,68,200 2,50,200 9,64,800Related Questions
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