At January 1, 2016, Bonita Industries has beginning inventory of 1500 surfboards. Bonita estimates it will sell 6000 units during the first quarter of 2016 with a 12% increase in sales each quarter. Bonita’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

$1,128,960

Explanation:

The budgeted sales revenue is the financial estimate of the amount that a company is expecting to make for a particular period of time.

Based on the information given in the question, the budgeted sales revenue for the third quarter of 2016 will be:

= 6000 × (1 + 12%) × (1 + 12%) × $150

= 6000 × (1 + 0.12) × (1 + 0.12) × $150

= 6000 × 1.12 × 1.12 × $150

= $1,128,960

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