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please help 3 The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year: 2nd Quarter 11,000 Quarter 9,000
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The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year: 2nd Quarter 11,000 Quarter 9,000 3rd Quarter 13,000 4th Quarter 12,000 Budgeted sales (units) The selling price of the company's product is $30 per unit. Management expects to collect 55% of sales in the quarter in which th sales are made and 40% in the following quarter, 5% of sales are expected to be uncollectible. The beginning balance of account receivable, all of which are expected to be collected in the first quarter, is $90,500. 7 The company expects to start the first quarter with 2,500 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 inventory the fourth quarter is 2.750 units. Required: 1-a. Prepare the company's sales budget. JESSI CORPORATION Sales BudgetStep by Step Solution
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