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help ASAP! The marketing department of Jess! Corporation has submitted the following sales forecast for the upcoming fiscal year (al sales te on account 2
help ASAP!
The marketing department of Jess! Corporation has submitted the following sales forecast for the upcoming fiscal year (al sales te on account 2 Quarter no quarter Budgeted unit Sale A Que The selling price of the company's product is $21 per unit Management expects to collect 65% of sales in the quarter in which are sales are made, 30% in the following quarter. and 5 of sales are expected to be uncollectible. The beginning balance of acounts receivable all of which is expected to be collected in the list quarter k $72.600. The company expects to start the first quarter with 2.440 units in finished good inventory Management desires an ending finished goods inventory in each quarter equal to 20% of the next parter's budoefed sales. The desired ending finkhed goods inventory tot the fourth quarter is 2.640 units. Required: Calculate the estimated sales for each quarter of the fiscal year and for the wors a whole . 2. Calculate the expected cash collections for each quotter of the dece 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 weat as a wholeStep by Step Solution
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