Saved Help Save & Exit Submit Check my work The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Ist Quarter 11.500 2nd Quarter 12.500 3rd Quarter 14,500 Ath Quarter 13, 500 3:55 Buldeeted unit sales The selling price of the company's product is $14 per unit Management expects to collect 75% of sales in the quarter in which the sales are made 20% 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 $71,200. The company expects to start the first quarter with 1725 units in finished goods inventory Management desires an ending finished 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 1.925 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 Required 3 Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total sales Required 2 > iz 3 Saved Help Save & Exit Submit Check my work 2 The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account); 2nd Quarter 1st Quarter 11.500 3rd Quarter 14.500 Budete mt sales 01:03:37 1th Quarter 1:1, 500 13,500 The selling price of the company's product is $14 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% 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 $71,200. The company expects to start the first quarter with 1.725 units in finished goods inventory Management desires an ending finished 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 1925 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 3 Requiret? Required 2 Calculate the expected cons 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 aw UVIU Rapidle -3 Saved Help Save & Exit Submit Check my work 2 The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) 2nd Quarter 1:03:23 1st Quarter 11.500 Bodeeted uit sales 3rd Quarter th Ouarter 14.500 13,500 12.500 The selling price of the company's product is $14 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% 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 $71,200. The company expects to start the first quarter with 1.725 units in finished goods inventory Management desires an ending finished 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 1.925 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 Required 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 PrtScn Home End PgUp Pgon 2 PII 510