The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year, (all sales are on account); 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 11,300 12,300 14,300 13,300 The selling price of the company's product is $12 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made 20% 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 $70,800. The company expects to start the first quarter with 1,695 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 1,895 units. Required: 1-a. Complete the company's sales budget. Jessi Corporation Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 11.300 12,300 14,300 13,300 $ 12 $ 12 $ 12 S 12 $ 135,600 $ 147,600 $ 171,600 $ 159,600 Year Budgeted units sales Selling price per unit Total sales 51,200 $ 12 $ 614,400 2. Prepare the company's production budget for the upcoming fiscal year. Budgeted unit sales Add: Desired units of ending finished goods inventory Total needs Less: Units of beginning finished goods inventory Required production in units Jossl Corporation Production Budget 1st Quarter 2nd Quarter 3rd Quarter 11,300 12,300 14,300 2,145 11,300 14,445 14,300 1,695 2,145 9,605 14,445 12.155 4th Quarter 13,300 1,895 15,195 15,195