Prepare the companys sales budget and schedule

Assignment Help Managerial Accounting
Reference no: EM13962966

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

147_260-B-M-A-P-P (293).png

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 $66,000. The company expects to start the first quarter with 3,200 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 3,400 units. 

Required: 

1. Prepare the company's sales budget and schedule of expected cash collections. 
2. Prepare the company's production budget for the upcoming fiscal year. 

Reference no: EM13962966

Questions Cloud

Prepare the companys budgeted balance sheet : Prepare the company's budgeted balance sheet.
Compute revenue and variable costs for each show : Compute revenue and variable costs for each show. Use the income statement equation approach to compute the number of shows British Productions must perform each year to break even.
Lp problem as a set of matrix equations : Define appropriate vectors and matrices to formulate the LP problem as a set of matrix equations
What is the present value of this investment : The rate of return on a 30-year investment is 4.35%. What is the present value of this investment if it pays $100,000 30 years later
Prepare the companys sales budget and schedule : Prepare the company's sales budget and schedule of expected cash collections.  Prepare the company's production budget for the upcoming fiscal year.
Nutritional elements per pound of feed : A farmer can purchase 3 kinds of feed for his stock, with various percentages of each of 4 nutrients, called A, B, C, and D.  A mixture of feeds gives proportional amounts of nutrients.  The following table gives the minimum da..
The triangle has the angles 45,45,90 with a base of length : The triangle has the angles 45,45,90 with a base of length a. The dipole is located at the right base corner pointing in the -x direction.
How many trades must he made to break even : Use the contribution margin ratio CVP formula to compute Big Time's break even revenue in dollars. If the average trade leads to $800 in revenue for Big Time, how many trades must he made to break even?
Annual production capacity : The Sentry Lock Corporation manufactures a popular commercial security lock at plans in Macon, Louisville, Detroit, and Phoenix.  The per unit cost of production at each plant is $35.5, $37.5, $39, and $36.25, respectively, while the annual product..

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Supporting cost of goods sold statement

The cost accountant for Angie's Apparel has compiled the following information for last month's operations:

  What is the purpose of an entity

What is the purpose of an entity and what are the rights of the stakeholders of an entity?

  Loreal reports the following for a recent year

LOreal reports the following for a recent year for the major divisions in its Cosmetics branch.

  What is the current margin of safety in terms

What is the current margin of safety in terms of the number of units? What is the current margin of safety in terms of sales dollars?

  Calculate the unit cost and the total cost

Lima Company manufactured 30,000 units of product last month and identified the following costs associated with the manufacturing activity:

  Determine the ending finished goods inventory

Determine the ending finished goods inventory. What was the cost of indirect labor? What was the amount of factory overhead applied? Determine total manufacturing costs incurred during 2007. What was the cost of good manufactured?

  Cash outflow for the repayment of bond liabilities

On January 1, 2013, Van Company had a balance of $800,000 in its Bonds Payable account. During 2013, Van issued bonds with a $300,000 face value.

  Today many companies face budgetary challenges on a

today many companies face budgetary challenges on a continual basis. two critical aspects that businesses lack are

  Journal entries to record the requisition slips

Prepare summary journal entries to record (i) the requisition slips, (ii) the time tickets, (iii) the assignment of manufacturing overhead to jobs, and (iv) the completion of Job No. 429.

  What were the major reasons for the increase income

Comment on amortization of NBA Franchise and other intangible assets - Would the discontinued operations be included in projecting the future?

  Analyse potential effects of recent developments in business

Analyse the potential effects of recent developments in the business or public sector environments on the relevance of management accounting systems.

  What is the weighted average contribution margin ratio

What is the weighted average contribution margin ratio? What level of sales is needed to earn a profit of $600,000 assuming the current mix?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd