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
26. Currently, Bruner Inc.'s bonds sell for $1,250. They pay a $120 annual coupon, have a 15-year maturity, and a $1,000 par val
maksim [4K]

Answer:

2.11%

Explanation:

From the information given; we use the Excel spreadsheet to compute the  difference between this bond's YTM(Yield to maturity) and its YTC(Yield to call).

From the diagram; we will see that the

YTM(Yield to maturity) = 8.91%

YTC(Yield to call).= 6.81%

Therefore the difference between this bond's YTM and its YTC = (8.91 - 6.81)%

the difference between this bond's YTM and its YTC = 2.11%

7 0
3 years ago
I need some help! I'm not necessarily looking for the exact, technically correct answer to my question. Users submit questions a
ziro4ka [17]
There goal means they want to examine credit unions. The meaning of the phase is Why focus on credit unions? Because: 1) They tend to be more retail-focused than many community banks, and 2) we can get data on credit unions’ membership size which provides a basis of comparison and analysis to evaluate the social media data.
3 0
3 years ago
H. Cochran Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2,3
MArishka [77]

Answer: If the required return is 11 percent, what is the project's NPV? (Do not round intermediate calculations and round your answer to two decimal places, e.g., 32.16.)

Explanation:

7 0
3 years ago
Read 2 more answers
A market gap is which of the following?
nlexa [21]

Answer:

b

Explanation:

.......................................

5 0
3 years ago
On TV a commercial plays from Progressive insurance. Their spokeswoman, Flo, is extolling the benefits of the Name Your Price to
Katena32 [7]

Answer:

cultural elements of a company

Explanation:

distinctive personality

8 0
3 years ago
Other questions:
  • In february, paula, the manager of a landscaping company, is looking at the upcoming need for more workers to handle the increas
    6·1 answer
  • Help me please!
    12·2 answers
  • Talbot purchased a laptop for $1,500 and a television for $1,300. The laptop is used solely for business and the television sole
    13·1 answer
  • Prior to closing, a final walkthrough of the property should be performed to ensure that everything has remained as stated in th
    14·1 answer
  • Which of the following would be an advantage of leasing a vehicle?
    14·1 answer
  • A real estate agent is considering changing her land line phone plan. There are three plans to choose from, all of which involve
    12·1 answer
  • You work in the human resource department at the headquarters of a multinational corporation based in the US. Your company is ab
    13·1 answer
  • Reeves Co. filed suit against Higgins, Inc., seeking damages for copyright violations. Higgins' legal counsel believes it is pro
    10·1 answer
  • What is technical education​
    12·2 answers
  • Mr. Ananta Jalil has received a job offer from a large investment bank as an assistant to the vice
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!