T2 7 The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming The account); i Ouarte 2nd Quarter the Budgeted unit wales 11.100 12.100 14.106 1).100 The selling price of the company's product is $10 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 $70,400 The company expects to start the first quarter with 1665 units in finished goods inventory Management desires an ending the goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory to the fourth quarter is 1,865 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 Thralles BB BE 3 of 4