part 2&3
ter 8 Exercises i Saved Help Sa U The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 11,000 12,000 14,000 4th Quarter 13,000 Book The selling price of the company's product is $18.00 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 $70,200. The company expects to start the first quarter with 1,650 units in finished goods inventory Management desires an ending finis goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for 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. 3. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. erences Complete this question by entering your answers in the tabs below. Required 1 Requirei 2 Required 3 Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total cash collections The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales account): Budgeted unit sales 1st Quarter 11,000 2nd Quarter 12,000 3rd Quarter 14,000 4th Quarter 13,000 The selling price of the company's product is $18.00 per unit. Management expects to collect 65% of sales in the quarter in whi sales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning balance of accou receivable, all of which is expected to be collected in the first quarter, is $70,200. The company expects to start the first quarter with 1,650 units in finished goods inventory Management desires an ending finish goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventon 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. 3. 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. Required 1 Required 2 Requied 3 Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Required production in units
