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The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year: 1st Quartet-2nd Quartet-3rd Quartet-4th Quarte Budgeted sales (units) 8,4eo 10,4aa 12,4aa 11,4aa The selling price of the company's product is $24 per unit. Management expects to collect 55% of sales in the quarter in which the sales are made and 40% in the following quarter; 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which are expected to be collected in the first quarter, is $84,500. The company expects to start the first quarter with 2,200 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 2,450 units. Required: 1. Prepare the company's sales budget. Sales Budget 2nd Quarter 3rd Quarter 1st Quarter Total sales 4th Quarter 2. Prepare the company's production budget for the upcoming fiscal year. JESSI CORPORATION Production Budget Qua Year 4th Qua t Qua Total units needed 2nd Qua