At January 1, 2016, Sheffield Corp. has beginning inventory of 3000 surfboards. Sheffield estimates it will sell 11000 units during the first quarter of 2016 with a 12% increase in sales each quarter. Sheffield's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $150. How much is budgeted sales revenue for the third quarter of 2016?
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “At January 1, 2016, Sheffield Corp. has beginning inventory of 3000 surfboards. Sheffield estimates it will sell 11000 units during the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Which of the following statement is TRUE about variable expenses? Question 3 options: A. The amount you spend on variable expenses do not change during certain months and do change during other months. B.
Answers (1)
A company that applies process costing is most frequently characterized by:A. Low standardization and high production volume. B. Custom orders and homogeneous products. C. Repetitive production and heterogeneous products. D.
Answers (1)
On July 1, 2018, Crane Company issued for $9450000 a total of 90000 shares of $100 par value, 8% noncumulative preferred stock along with one detachable warrant for each share issued.
Answers (1)
As owner of a retail franchise food store, Mary Grey purchases supplies based on specials advertised nationally throughout the franchise system.
Answers (1)
A start-up company that makes robotic hardware for CIM (computer integrated manufacturing) systems borrowed $1.3 million to expand its packaging and shipping facility.
Answers (1)
New Questions in Business
Which of the following items regarding references is NOT a red flag for hiring managers?
Answers (1)
Revenue at a major smartphone manufacturer was $1.9 billion for the nine months ending March 2, up 89 percent over revenues for the same period last year.
Answers (1)
Choose a company you know of that you think is good at innovation, describe at least one innovative thing that company has done.
Answers (1)
for a new bottling machine it is developing. Future research and development expenses could range from $4 to $9 million, with a most likely value around $7 million. The life of the product will be anywhere from 3 to 10 years.
Answers (1)
Ken Deangelo Company's internal controls over cash disbursements provide for the treasurer to sign checks imprinted by a check-writing machine in indelible ink after comparing the check with the approved invoice.
Answers (1)