Business, 19.11.2019 03:31, datboyjulio21

The selling price of the company’s product is $22 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 $72,800. the company expects to start the first quarter with 2,460 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 2,660 units. required: 1. calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2. calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3. calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole.

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The selling price of the company’s product is $22 per unit. management expects to collect 75% of sal...