The company expects to start the first quarter with 2,420 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 2,620 units. Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter 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 and for the year as a whole. Exercise 8-14 (Algo) Sales and Production Budgets [LO8-2, LO8-3] The marketing department of Jessi Corporation submuted the following sales forecast for next year (all sales are on account): The selling price of the company's product is $20 per unit. Management expects fo callect 75% of soles in the quarter in which the sales are made and 20% in the foliowing quarter. 5% of sales are expected to be uncollectble. The beginning balance of occounts receivable, all of which is expected to be collected in the first eviarter, is $72,400. The company expects to start the first quarter with 2,420 units in finshed goods inventory. Management desures an ending finshed goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fouth quarter is 2,620 units. Bequired: 1. Calculate the estimated sales for each quarter and for the year as a wholio. 2 Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finivied goods for each quarter and for the vear as a whole. Complete this question by entering your answers in the tabs below. Calculate the estimated sales for each quarter and for the year as a whole. The company expects to start the first quarter wah 2.420 units in finished goods inventory Management desires an ending finished goods inventory in each quarter equal to 20%, of the next quarter's budpeted soles. The desired ending finished goods inventory for the fourth quarter is 2,620 units. Required: 1 Calculate the estimated saies for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finished gosds for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Calculate the expected cash colections for each quarter and for the vear as a whole. The company expects to start the first quarter with 2,420 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 2,620 units. Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Calculate the required production in units of finished poods for each quarter and for the year as a whole