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Provide the company production budget for each quarter

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Question - Henderson Jewelers Inc. is a vendor of jewelry. The marketing department of Henderson Jewelers has submitted the following sales forecasts for their diamond necklaces for the upcoming year:

1st Quarter: 50,000 Necklaces

2nd Quarter: 48,000 Necklaces

3rd Quarter: 41,500 Necklaces

4th Quarter: 50,000 Necklaces

Henderson sells necklaces for $600.00 apiece. The cash collection expectations are that 65% of sales will be collected in the quarter in which the sale occurs, 30% of sales will be collected in the following quarter, and 5% of sales will be uncollectible. This is Henderson first year of operations, so there is no beginning accounts receivable balance or inventory. Henderson's management likes to have an ending finished goods inventory in each quarter equal to 25% of the next quarter's budgeted sales. The desired finished goods inventory for the 4th quarter is 12,000.

Required -

1. Provide the company's production budget for each quarter of this year.

2. How much cash does Henderson expect to receive from sales in Q3?

Reference no: EM132815312

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