The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) The selling price of the company's product is $27 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 $73,800 The company expects to start the first quarter with 2.560 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 2760 units. Required: i. 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. Calculate the istimatad sales for each quiter of the fiscal year and for tho year as a whoce. ceivable, all of which is expected to be collected in the first quarter, is $73,800. e company expects to start the first quarter with 2,560 units in finished goods inventory. Manager ods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired end e fourth quarter is 2,760 units. equired: Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a wh Calculate the required production in units of finished goods for each quarter of the fiscal year and Complete this question by entering your answers in the tabs below. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. xercise 8-14 (Algo) Sales and Production Budgets [LO8-2, LO8-3] The selling price of the company's product is $27 per unit. Management expects to collect 65% of sales in the c iales are made, 30% in the following quarter, and 5% of sales are expected to be uncollectible. The beginning b ecelvable, all of which is expected to be collected in the first quarter, is $73,800. The company expects to start the first quarter with 2,560 units in finished goods inventory. Management desires goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished the fourth quarter is 2,760 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 Complete this question by entering your answers in the tabs below. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 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 Complete this question by entering your answers in the tabs below. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year a
