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need answer as soon as possible please Exercise 7-2 Preparing Sales and Production Budgets (LO2. CC5, 6) - EDITED The marketing department of Jessi Corporation
need answer as soon as possible please
Exercise 7-2 Preparing Sales and Production Budgets (LO2. CC5, 6) - EDITED The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year. ist 4th Quarter 3.600 Budgeted sales (units 2nd Quarter 10,600 Brd Quarter 12.000 11,600 The selling price of the company's product is $26 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 are expected to be collected in the first quartet, is $86,500 The company expects to start the first quarter with 2.300 units in finished goods inventory Management desires an ending tinished goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending tinished goods inventory for the fourth quarter is 2.550 units Help Save & Exit Subm Required: 1. Prepare the company's sales budget JESSI CORPORATION Sales Budget 2nd Quarter 3rd Quarter 1st Quarter 4th Quarter Total sales Year 2. Prepare the company's production budget for the upcoming fiscal year JESSI CORPORATION Production Budget Tot Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total units needed THE NOY Step by Step Solution
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