The selling price of the companyu2019s product is 2300 per

Reference no: EM13580960

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 19,000 18,000 17,000 18,000

The selling price of the company%u2019s product is $23.00 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 2,850 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter%u2019s budgeted sales. The desired ending finished goods inventory for the fourth quarter is 3,050 units.

Reference no: EM13580960

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