23.

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account):

Budgeted unit sales:

1st Quarter- 11,800

2nd Quarter- 12,800

3rd Quarter- 14,800

4th Quarter- 13,800

The selling price of the company's product is $17 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 $71,800.

The company expects to start the first quarter with 1,770 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 1,970 units.

1-a.Compute the company's total sales.

1-b.Complete the schedule of expected cash collections.

2.Prepare the company's production budget for the upcoming fiscal year.