The marketing department of Graber Corporation has submitted the following sales forecast for the upcoming fiscal year. First Second Third Fourth Quarter Quarter Quarter Quarter Budgeted unit 16,200 15,200 14,200 15,200 sales The selling price of the company's product is $24.00 per unit. Management expects to collect 80% of sales in the quarter in which the sales are made and 15% 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 $68,000. The company expects to start the first quarter with 3,400 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 3,600 units. Required: 1-a. Compute the company's total sales. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total Sales 1-b. Complete the schedule of expected cash collections. Graber Corporation Schedule of Expected Cash Collections 1st 2nd 3rd Quarter Quarter Quarter 4th Quarter Year Accounts receivable, beginning balance 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections 2. Prepare the company's production budget for the upcoming fiscal year. Graber Corporation Production Budget 1st 2nd Quarter Quarter Quarter 3rd Year Quarter Budgeted unit sales Total units needed Required production