14,400 13,400 Check my work The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): lat Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit bales 11,400 12,400 The selling price of the company's product is $13 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 uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $71,000. The company expects to start the first quarter with 1,710 units in finished goods inventory Management desires an ending finished goods Inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,910 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 148.200 $ 161.2001 5 187.2008 $ 174.200 $ Year 51,600 Total sales ugeted sales. The desired ending finished goods inventory for quarter is 1,910 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, Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. Total cash collections 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter $ 167,330 s 149,240 s 121,680 $ 169.390 Year 607.640 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. 3rd Quarter 4th Quarter Year 1st Quarter 11,550 Required production in units 2nd Quarter 14,547
