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Problem - Contempo Futon manufactures futons. The estimated number of sales for the last quarter of 2018 is as? follows:
Month Sales #
October: 20,000
November: 25,000
December: 30,000
Beginning finished goods inventory should be equal to 30 percent of that? month's budgeted sales plus 10 percent of the following? month's budgeted sales. January and February 2018 sales are anticipated to be? 15,000 futons in each month. The cost to produce a futon is? $125.
How many futons will Contempo Futon budget to be produced in the three? months?
How would sales and accounts receivable be reported on the financial statements for the year ending June 30, 20Y4
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