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please help The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales at account): The selling
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The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales at account): The selling price of the company's product is $25 per unit. Management expects to collect 65% of sales in the quarter in which the The selling price of the company's product is $25 per unit. Management expects to collect 65% of sales in the quarter in which the receivable, all of which is expected to be collected in the first quarter, is $73,400. The company expects to start the first quarter with 2,520 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,720 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. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole Step by Step Solution
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