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Compute the companys total sales

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Reference no: EM13509072

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 quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,000 units.1a.

Compute the companys total sales.


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

1b. Complete the schedule of expected cash collections. (Do not round intermediate calculations. Leave no cells blank - be certain to enter "0" wherever required.)


Graber Corporation
Schedule of Expected Cash Collections

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year
Accounts receivable, beginning balance $ $ $ $ $
1st Quarter sales




2nd Quarter sales




3rd Quarter sales




4th Quarter sales





Total cash collections $ $ $ $ $

 

2. Prepare the company%u2019s production budget for the upcoming fiscal year. (Input all amounts as positive values. Do not round intermediate calculations.)

 

Graber Corporation
Production Budget

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year
Budgeted unit sales




(Click to select) Add Deduct : (Click to select) Ending inventory Beginning inventory





Total units needed




(Click to select) Add Deduct : (Click to select) Ending inventory Beginning inventory





Required production






Reference no: EM13509072

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