Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the marketing department of graber corporation has

The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming...

60.1K

Verified Solution

Question

Accounting

imageimage

The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year. Fourth Second Third Quarter Quarter First Quarter Quarter Budgeted unit sales 00 16,100 15,100 16,100 The selling price of the company's product is $32.00 per unit. Management expects to collect 80% of sales in the quarter in which the sales are made and 15% 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 $77,000. The company expects to start the first quarter with 4,300 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 4,500 units. Required: 1-a.Compute the company's total sales. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total Sales

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Psychology
1.2K views

wite 3-5 senctences response to this post in your own words . COLLAPSE Genetic treatment is is gene therapy,...

Economics
1.2K views

What were some of the adverse economic outcomes, for BP and others, arising from the Deepwater...

Accounting
1.2K views

The Financial Accounting Standards Board (FASB) is responsible for the Generally Accepted Accounting Principles (GAAP). Select...

Biology
1.2K views

101 In the illustration above a parent cell is going through cell division Black lines...

Biology
1.2K views

Which of the following events would most likely reduce aggregate demand a negative pessimistic consumer...

Geometry
1.2K views

Which of these groups of values plugged into the TVM Solver of a graphing calculator...

Basic Math
1.2K views

The following diagram shows a 4 step process that begins with Operation represent the effective...

Statistics
1.2K views

A person in a casino decides to play blackjack until he wins a game but...

Algebra
1.2K views

Johnni guessed on all 8 questions of a multiple-choice quiz. Each question has 4 answer...

Algebra
1.2K views

Simplify the trigonometric expressions. Show your steps or give a reason for your answer.a. sec...

Accounting
1.2K views

8. Fashions by Francine bought a new sewing machine for $1,200. Francine paid $400 as...

Finance
1.2K views

You buy a house for $200,000. The mortgage company offers a 30-year loan with an...