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

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
Budgeted unit sales	17,000	16,000	15,000	16,000

The selling price of the companys product is $22.00 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% 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 $63,000.

The company expects to start the first quarter with 3,400 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 3,600 units.

Required:

1a.	Compute the companys total sales.

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Year
Total sales	$	$	$	$	$

1b.	Complete the schedule of expected cash collections. (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required.)

Graber Corporation Schedule of Expected Cash Collections
	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Year
Accounts receivable, beginning balance	$	$	$	$	$
1st Quarter sales
2nd Quarter sales
3rd Quarter sales
4th Quarter sales
Total cash collections	$	$	$	$	$

2.	Prepare the companys production budget for the upcoming fiscal year. (Input all amounts as positive values. Do not round intermediate calculations.)

Graber Corporation Production Budget
	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter	Year
Budgeted unit sales
(Click to select)AddDeduct: (Click to select)Ending inventoryBeginning inventory
Total units needed
(Click to select)AddDeduct: (Click to select)Beginning inventoryEnding inventory
Required production

The marketing department of Graber Corporati on has submitted the following sales forecast for the upcoming fiscal year. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 17,000 16,000 15.000 16.000 The selling price of the company's product is $22.00 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% 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 $63,000 The company expects to start the first quarter with 3,400 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 3,600 units Required: la. Compute the company's total sales 2nd Quarter 1st Quarter 3rd Quarter 4th Quarter Year Total sales 1b. Complete the schedule of expected cash collections. (Do not round intermediate calculations. Leave no cells blank be certain to enter "O" wherever required.) Graber Corporation Schedule of Expected Cash Collections 1st Quarter 3rd Quarter 4th Quarter 2nd Quarter Accounts receivable, beginning balance 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections 2. Prepare the company's production budget for the upcoming fiscal year (Input all amounts as positive values. Do not round intermediate calculations.) Graber Corporation Production Budget 1st Quarter 2nd Quarter 3rd Quarter Budgeted unit sales (Click to select) Click to select) Total units needed (Click to select) (Click to select) Required production Year 4th Quarter Year

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