{"id":31418,"date":"2022-02-09T10:16:29","date_gmt":"2022-02-09T10:16:29","guid":{"rendered":"https:\/\/assignmenttutors.net\/blog\/the-marketing-department-of-jessi-corporation-has-submitted-the\/"},"modified":"2022-02-09T10:16:29","modified_gmt":"2022-02-09T10:16:29","slug":"the-marketing-department-of-jessi-corporation-has-submitted-the","status":"publish","type":"post","link":"https:\/\/assignmenttutors.net\/blog\/the-marketing-department-of-jessi-corporation-has-submitted-the\/","title":{"rendered":"The marketing department of jessi corporation has submitted the"},"content":{"rendered":"<div>\n<p>The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account):<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p><span>Units to be produced <\/span><\/p>\n<p>11,000 &#8212; \u00a01st quarter<\/p>\n<p>12,000&#8212; 2nd quarter<\/p>\n<p>14,000&#8212; 3rd quarter<\/p>\n<p>13,000&#8211; \u00a04th quarter<\/p>\n<p>\u00a0<\/p>\n<p>The selling price of the company&#8217;s product is $18.00 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% in the following quarter, and 5% of sales are expected to be &#8220;&#8216;uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $70,200. The company expects to start the first quarter with 1,650 units in finished goods inventory. \u00a0Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter&#8217;s budgeted sales. \u00a0The desired ending finished goods inventory for the fourth quarter is 1,850 units.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Required:<\/p>\n<p>\u00a0<\/p>\n<p>Prepare the company&#8217;s sales budget and schedule of expected cash collections.<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Prepare the company&#8217;s production budget for the upcoming fiscal year.<\/p>\n<p>\u00a0<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): \u00a0 \u00a0 Units to be produced 11,000 &#8212; \u00a01st quarter 12,000&#8212; 2nd quarter 14,000&#8212; 3rd quarter 13,000&#8211; \u00a04th quarter \u00a0 The selling price of the company&#8217;s product is $18.00 per unit. Management expects [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-31418","post","type-post","status-publish","format-standard","hentry","category-education"],"_links":{"self":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/31418","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/comments?post=31418"}],"version-history":[{"count":0,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/posts\/31418\/revisions"}],"wp:attachment":[{"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/media?parent=31418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/categories?post=31418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/assignmenttutors.net\/blog\/wp-json\/wp\/v2\/tags?post=31418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}