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Nikitich [7]
3 years ago
14

The crawford company has 3,000 units in beginning finished goods. the sales budget shows expected sales to be 12,000 units. if t

he production budget shows that 14,000 units are required for production, what was the desired ending finished goods?
Business
1 answer:
Olenka [21]3 years ago
3 0
Formula: Finished Goods Inventory Beginning - Sales in units + Produced units= Ending Inventory

3000-12000+14000= 5000 Ending finished goods inventory in units
-ahnnahly
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Answer:

$207000 is the sales revenue for the year.

Explanation:

The given situation is:

Sales Revenue                              100%

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Profit Margin                                  40%

Now we neither have sales revenue figure nor the profit margin figures but we can calculate cost of goods sold from the following formula:

Cost Of Goods Sold = Opening Inventory + Purchases - Closing Inventory

By putting values we have:

Cost Of Goods Sold = $54,000 + $109,800 - $39,600

Cost Of Goods Sold = $124,200

Now cost of goods sold is 60% which means if we want to go at 100% we will divide with the percentage at which we are standing (60%) and multiply with the percentage which we want to calculate (Sales is 100%).

Sales revenue = Cost of goods sold  *    100% / 60%  

Sales revenue = $124200  * 100% / 60%  = $207,000

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Answer:

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