714 11 points Skipped eBook Print References The marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account): Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,800 13,800 15,800 14,800 The selling price of the company's product is $27 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made and 30% in the following quarter; 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 $73,800. The company expects to start the first quarter with 2,560 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,760 units Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. ed 1 Required 2 Required 3 Required Calculate the estimated sales for each quarter and for the year as a whole. Total sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Required Required 2 > 11 734 points Book Print The marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,800 13,000 15,000 14,500 The selling price of the company's product is $27 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made and 30% in the following quarter, 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 $73,800. The company expects to start the first quarter with 2,560 units in finished goods inventory Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,760 units. Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Required 11 Required 2 Required 3 Calculate the expected cash collections for each quarter and for the year as a whole. Total cash collections 1st Quarter 2nd Quarter Quarter 4th Quarter Year 714 11 12 points Skipped eBook Print References The marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,800 13,800 15,800 Budgeted unit sales 14,800 The selling price of the company's product is $27 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made and 30% in the following quarter, 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 $73,800. The company expects to start the first quarter with 2,560 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,760 units. Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter 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 and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter Required production in units 4th Quarter < Required 2 Required 3> Year