The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming...
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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 16,900 15,900 14,900 15,900 The selling price of the company's product is $28.00 per unit. Management expects to Collect 70% of sales in the quarter in which the sales are made and 20% in the following quarter, and 10% 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 $75,000 The company expects to start the first quarter with 4,100 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 finished goods inventory for the fourth quarter is 4,300 units. Required 1-a.Compute the company's total sales. 1st Quarter 2nd Quarter 3rd Quarter th Qarter Year Total Sales
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