The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) 1st Quarter 11.00 2nd Quarter 12,400 3rd Quarter Seth Quarter 14,500 11,400 Budgeted unit sales The selling price of the company's product is $13 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 soles are expected to be uncollectible. The beginning balance of accounts receivable all of which is expected to be collected in the first quarter, is $71000, The company expects to start the first quarter with 1710 units in finished goods inventory Management desires an ending finished goods inventory in each quarter equal to 15% of the next Quarter's budgeted soles. The desired ending finished goods inventory for the fourth quarter is 1910 units Required: 1. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whold 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 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 Requirgu Required 2 >