Exercise 8-14 Sales and Production Budgets [LO8-2, LO8-3 10 ales forecast for the upcoming fiscal year (all sales are on The marketing department of Jessi Corporation has submitted the following s account 10 points Budgeted unit sales 11,000 12,00 14,889 13,ee0 Skipped me se ng price ot the company's product is St sales are made, 30% in the 00per unit. Management expects to colect 65%of sales n the artern which te 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 $70.200 eBlook References pects to start the first quarter with 1,650 units in finished goods inventory Management desires an ern n each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for ding finished goods inventory i the fourth quarter is 1,850 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 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