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The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year ( all sales are on account ) :

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account):
\table[[Budgeted unit sales,1st Quarter,2nd Quarter,3rd Quarter 4th Quarter]]
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 sales. The desired ending finished goods inventory for the fourth quarter is 2,680 units.
Required:
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 whole.
Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole.
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Calculate the expected cash collect
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If the fiscal year and for the year as a whole.
\table[[,Quarter,2nd Quarter,3rd Quarter,\table[[4th],[Quarter]],Year],[Total cash collections,$258,380O?,$.,255,944ox,290,329x,$284,349,1,089,002
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