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Ethel Company manufactures and sells desk lamps for hotel and motel rooms. Last year, it...

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Accounting

imageimageimage Ethel Company manufactures and sells desk lamps for hotel and motel rooms. Last year, it sold 120,000 units of its model Y lamp for $45 per unit. The company estimates that this volume represents a 24 percent share of the current market. The market is expected to increase by 8 percent next year. Marketing specialists have determined that as a result of new competition, the company's market share will fall to 20 percent (of this larger market). Due to changes in production costs and competitive models, the new price for the lamps will be $48 per unit. The revised volume estimates are based on the $48 price. Requlred: Estimate Ethel Company's sales revenues from model Y lamps for the coming year. Benham Foundries manufactures metal components. The inventory policy at Benham is to hold inventory equal to 150 percent of the average monthly sales for its main product. Sales for the main product for the following year are expected to be 480,000 units. Based on the inventory policy, the budget calls for the production of 450,000 units. Requlred: What is the beginning inventory of the main product

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