Chapter 8 Exercises Saved Help Save & Exit Submit 66 Check my work 2 The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) 20 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 12,600 13,600 14,600 Budgeted unit sales 15,600 points Skipped The selling price of the company's product is $25 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 $73,400. eBook The company expects to start the first quarter with 2,520 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 desi red ending finished goods inventory for the fourth quarter is 2,720 units. Ask Required: 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. Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2nd Quarter 3rd Quarter 1st Quarter 4th Quarter Year Total sales Required 2 Required 1 Chapter 8 Exercises Submit Saved Help Save & Exit 99 Check my work 2 The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) 20 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 14,600 Budgeted unit sales 12,600 13,600 15,600 points Skipped The selling price of the company's product is $25 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 saless are expected to be uncollectible. The beginning balance of accounts receivable, all of which is expected to be collected in the first quarter, is $73,400. ook The company expects to start the first quarter with 2,520 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 2,720 units. Ask 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. Print Complete this question by entering your answers in the tabs below. References 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 3rd 4th Quarter 1st Quarter 2nd Quarter Year Quarter Total cash collections Required 1 Required 3
