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The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year: The selling price of the company s product
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year: The selling price of the company s product is $20.00 per unit Management expects to collect 05% of sales in the quarter in which the sales are made. 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 $80, 500 The company expects to start the first quarter with 2.000 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2.250 units. Prepare the company's sales budget {Omit the "S" sign in your response.) Prepare the schedule of expected cash collections. {Leave no cells blank - be certain to enter "0" wherever required Omit the "V sign in your response.} Prepare the company's production, budget for the upcoming fiscal year. {Input all values as positive values.}
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