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
Answer the above questions <br><br>don't spam <br>​
Anna007 [38]

Answer:

Explanation:

B) current liability

5 0
2 years ago
Read 2 more answers
I am having to create a presentation about myself and i dont know what to do it about? I NEED YOUR HELP!!!!
In-s [12.5K]

Maybe talk about how you're life has been, or what you struggle with and wish to move on from it. Be creative ideas are endless! Or base it on a topic about your life. For example, if you've ever gotten bullied talk about how you felt through that time.

8 0
2 years ago
Read 2 more answers
My husband is 48 and wants to have relations every day what can i do
Damm [24]
You can divorce or seperate.
5 0
3 years ago
When the cross price elasticity between good X and other related goods is positive and very low firm X can be assumed to have?
geniusboy [140]

Answer:

c. a significant amount of market power 

Explanation:

Cross price elasticity measures the responsiveness of quantity demanded of a good to the changes in price of another good.

If the cross price elascitiy is postive, the goods are subsituites.

If the cross price elasticity is negative, the goods are complementary goods.

If the cross price elasticitiy is low the firm has market power. It means that it's consumers do not change the quantity demanded when the price of the good changes

If the cross price elasticitiy is high, the market has low market power.

I hope my answer helps you.

3 0
3 years ago
Acme Widget, Inc. has 1,000 shareholders who own a total of one million shares of its common stock. The company earned $10 milli
Dafna1 [17]

Answer:

$94 per share

Explanation:

Stockholders Equity Includes the Add-in-capital par value, Add-in-capital excess value of Common and Preferred, Net income accumulated value and dividends.

Equity of the firm = Assets - Liabilities

Equity of the firm  = $125 million - $25 million = $100 million

Net Addition in the equity = Net earning for the period - Dividend paid

Net Addition in the equity = $10 million - $4 million - $6 million

Book Value of the equity = Equity of the firm - Additions in the year

Book Value of the equity = $100 - $6 = $94 million

Book value per share = Book Value of the equity / Numbers of Share

Book value per share = $94 million / 1 million

Book value per share = $94 per share

8 0
3 years ago
Other questions:
  • The risk management approach consists of three stages. Which of these is not a stage identified in the ITIL guidance? Choose the
    8·1 answer
  • Peroni Corporation sold a parcel of land valued at $300,000. Its basis in the land was $250,000. For the land, Peroni received $
    14·1 answer
  • The shadow price measures, per unit increase in the right hand side of the constraint, Select one: a. the change in the value of
    9·1 answer
  • On April 1, 2020, Rasheed Company assigns $400,000 of its accounts receivable to the Third National Bank as collateral for a $20
    13·2 answers
  • Jerry quarry sells building stone in a perfectly competitive market. At a its current level of building stone production, jerry
    5·1 answer
  • Jackson Corp. has beginning retained earnings of $400. During the year Jackson had $800 of revenues and $200 in expenses. Jackso
    9·1 answer
  • On July 1, Year 1, Denver Corp. purchased 3,000 shares of Eagle Co.�s 10,000 outstanding shares of common stock for $20 per shar
    14·1 answer
  • Rector Corporation is examining its quality control program. Which of the following statements​ is/are correct? I. Rework costs
    9·1 answer
  • What is the difference in having da juice, or having the sauce?
    15·1 answer
  • How can we make sure animal shelters have food and space
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!