The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account); Int Quarter 2nd Quarter 3rd Quarter 12,400 13,400 15,400 4th Quarter 14,400 Budgeted unit bales The selling price of the company's product is $23 per unit. Management expects to collect 65% of sales in the quarter in which the sales are made, 30% 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 $73,000. The company expects to start the first quarter with 2,480 units in finished goods inventory Management desires an ending finished goods Inventory in each quarter equal to 20% of the next quarter's budgeted soles. The desired ending finished goods Inventory for the fourth quarter is 2680 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 Total sales Prey 1 of 8 !!! Next > Down Under Products, Ltd. of Australia has budgeted sales of its popular boomerang for the next four months as follows: April May June July Unit Sales 86,000 90,000 126,000 98,000 The company is now in the process of preparing a production budget for the second quarter. Post experience has shown that end of month inventory levels must equal 10% of the following month's unit sales. The inventory at the end of March was 8,600 units. Required: Prepare a production budget by month and in total, for the second quarter. Down Under Products, Ltd., Production Budget April May June Quarter Budgeted unit sales Total needs Required production in units