The marketing department of graber corporation has

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Reference no: EM13579293

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	18,000	17,000	16,000	17,000

The selling price of the company%u2019s product is $26.00 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 $64,000.

The company expects to start the first quarter with 1,800 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 10% of the next quarter%u2019s budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,000 units.

1a.

Compute the company%u2019s total sales.

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

1b.

Complete the schedule of expected cash collections.

Reference no: EM13579293

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