Smart Price Company, a producer of black forest cakes, has budgeted sales and production (in...
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Accounting
Smart Price Company, a producer of black forest cakes, has budgeted sales and production (in units) for the last quarter in 2019 to be as follows:
October
November
December
Sales
28,000
?
29,000
Production
30,000
26,000
35,000
In addition to this, note the following information:
i)At the end of the September, there are 8,000 black forest cakes.
ii)At the end of November, a minimum of 10% of the next month's sales of black forest cakes must be on hand.
iii)The selling price for black forest cakes is expected to be $800 each.
iv)Each cake will require two (2) pounds of raw material which cost $300 per pound.
v)Smart Price Company wants to always have 2,000 pounds of raw material at the end of each month.
Required:
How much is the expected sales in dollar amount for the month of November 2019?
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