Exercise 8-14 (Algo) Sales and Production Budgets [LO8-2, LO8-3] The marketing department of Jessi Corporotion has submited the following sales forecast for the upcoming fiscal year (al sales are on occount: The seling price of the compary's product is $13 per unit Management expects to collect 65% of sales in the quarter in which the sales are made, 30K in the following quater, and 5Y of sales are expected to be uncollectible. The beginning balance of occounts receivable, all of which is expected to be collected in the first evarter, is $71000 The compary expects to start the fist quarter wot 1,710 unis in finshed goods inventory. Management desires an ending finished goods inventory in each quarter equal to 158 of the next quarter's budgeted saies. The desired ending finished goods inventery for the fourth quorter is 1.90 unas. Required: 1. Colculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2. Caiculate the expected cash coliections for each quarter of the fiscal year and for the yeor as a whole. 3 Calculate the required production in units of tinished goods for each quarter of the fiscal year and for the year as a whele