1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Yuki888 [10]
2 years ago
13

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales

are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 12,500 13,500 15,500 14,500 The selling price of the company’s product is $24 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 $73,200. The company expects to start the first quarter with 2,500 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 2,700 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.
Business
1 answer:
Fittoniya [83]2 years ago
4 0

Answer:

Jessi Corporation

                                        1st             2nd           3rd             4th

                                   Quarter      Quarter     Quarter    Quarter    Total

1. Sales                    $300,000  $324,000 $372,000 $348,000 $1,344,000

2. Expected cash

   collections          $298,200  $303,000 $343,800 $335,400 $1,280,400

3. Units to be

 produced                   12,700     13,900      15,300       14,100       56,200

Explanation:

a) Data and Calculations:

                                          1st             2nd           3rd             4th

                                      Quarter      Quarter     Quarter    Quarter    Total

Estimated unit sales     12,500       13,500      15,500      14,500        56,000

Ending Inventory            2,700         3,100       2,900        2,700          2,700

Units available for sale 15,200      16,600      18,400       17,200        58,700

Beginning Inventory      2,500        2,700        3,100         3,100          2,500

Units to be produced   12,700      13,900      15,300        14,100       56,200

Selling price = $24 per unit

Credit Sales            $300,000  $324,000 $372,000 $348,000 $1,344,000

Cash Collection:

75% in quarter       $225,000  $243,000 $279,000 $261,000 $1,008,000

20% ffg quarter          73,200      60,000      64,800     74,400      272,400

Total collection      $298,200  $303,000 $343,800 $335,400 $1,280,400

You might be interested in
"Phillips and Sanchez is a retailer that operates a national chain of home furnishings stores. It has designed a website and a s
Annette [7]

Answer:

Omnichannel strategy

Explanation:

Omnichannel strategy -

It is the strategy adapted by an organisation in order to enhance the experience of the user .

It is a cross - channel content strategy .

The resources of these , Omnichannel strategy , are are orchestrated  and designed to cooperate .

This approach or strategy is used in many industries , like ,telecommunications ,  retail , government , healthcare and financial services .

Hence , the example given in the question , is of  a Omnichannel strategy .

7 0
3 years ago
Bob returns goods bought on credit from Tariq, which ledger a/c entries record this in Tariq's book?
Elza [17]

Answer:

<u>D. Purchase returns Bob</u>

Explanation:

  • Purchase refers to payment by credit
  • So, it is either B or D
  • D sounds like the more sensible option
7 0
1 year ago
Read 2 more answers
Knowing that accounting and reporting laws differ widely around the world thereby posing risks for the international business, b
morpeh [17]

Answer: The answer is explained below.

Explanation:

Physical asset valuation is the process used to determine the fair market value of an asset. Research and development is the process whereby a company works in order to obtain new knowledge that will be used to create new technology, services, products, or systems.

Due to the different accounting practices which are accepted by different countries, companies has to consolidate their accounting into a standard. But in a situation whereby a foreign accounting procedure is translated to an accepted and followed standard, this might lead to valuation discrepancies. Therefore, an asset valued at certain amount may fall in value due to the foreign accounting standard used when compared to local accounting standards.

The same follows with the Research and Development cost as there is currency valuations involved and the gap in values of the currencies of the two nations can lead to differences in the the total cost of the project.

7 0
3 years ago
When the price level decreases: Group of answer choices The demand for money falls and the interest rate falls Holders of financ
rodikova [14]

Answer:

The answer is A. demand for money falls and the interest rate falls

Explanation:

The demand for money is the amount of money or amount of wealth households or businesses choose to hold in the form of money(cash or cash-equivalent).

When the price level decreases, the purchasing power of consumers increases, so consumers' demand for money will be reduced or lower. The transactional demand for money will be reduced.

Also when price level decreases, interest rate falls. Because the purchasing power of consumers has been increased, the excess money will be kept in banks and the increases the money supply. So with an increase in money supply, interest rate will be reduced to encourage borrowing.

3 0
3 years ago
Read 2 more answers
Domain name extensions occur _____ the period in the domain name.
Shalnov [3]

Answer:

after

Explanation:

Domain name extension is a TLD or top level domain.

For google.com the domain name extension is 'com'

This comes after the period.

8 0
3 years ago
Read 2 more answers
Other questions:
  • Fill in the blanks:1. ________ reduces the time, effort, and cost of recordkeeping while improving clerical accuracy. 2. _______
    8·1 answer
  • As the level of activity increases, how will a mixed cost in total and per unit behave? In Tota Per UnitA) Increase DecreaseB) I
    7·1 answer
  • Three years ago American Insulation Corporation issued 10%, $800,000, 10-year bonds for $770,000. American Insulation exercised
    13·1 answer
  • Kendall executes a separate written instrument to amend her prior will. This separate document is a:
    10·1 answer
  • How is time like money? I have to write 3 paragraphs over how time is like money.
    9·1 answer
  • Shaffer Corporation issued 180, $1,000, 10% convertible bonds in 2019 at face value. Each bond is convertible into 100 shares of
    6·1 answer
  • Jent Corp. purchased bonds at a discount of $10,000. Subsequently, Jent sold these bonds at a premium of $14,000. During the per
    9·1 answer
  • Zachary Corporation produces products that it sells for $18 each. Variable costs per unit are $6, and annual fixed costs are $24
    12·1 answer
  • Case X: Compute cash received from customers:
    5·1 answer
  • The following information is available for the year ended December 31: Beginning raw materials inventory $ 3,900 Raw materials p
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!