The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) 1st Quarter 12200 2nd Quarter 13 200 3rd Quarter 15,200 4th Quarter 14,200 Budgeted unt sales The selling price of the company's product is $21 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 $72600 The company expects to start the first quarter with 2 440 units in finished goods inventory Management desires an ending finished goods inventory in each quarter equal to 20% of the next quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2 640 units Required: 1-a. Complete the company's sales budget Jessi Corporation Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarte Year 12,200 13200 15.200 14 200 54 800 S 21 21 $ 21 $ 21 S 21 S 256,200 $ 277 200 $ 319 200 $ 298 200 S 1 150,800 Budgeted units sales Selling price per unit Total sales 1-b. Complete the schedule of expected cash collections Jessi Corporation Schedule of Expected Cash Collections 1st Quarter 2nd Quarter Ord Quarter 4th Quarter Year 0 0 Beginning accounts receivable 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections 0 0 $ OS 0 $ OS 0 2. Prepare the company's production budget for the upcoming fiscal year Jessi Corporation Production Budget at Quarter 2 Cuartet Year Budgeted unit Sales Add: Desired units of endung finished goods inventory Total needs Less Units of beginning isted goods inventory 0 0 2. Prepare the company's production budget for the upcoming fiscal yeat Jessi Corporation Production Budget Tatuarter 2nd Quarter and Quarter 4th Quarter Your Budgeted sales Add Desired units of ending finished goods that Total needs Less Unds of beginning finished goods inventory Required production units 0 0 9