The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account) Budgeted undt sales ist Quarter 12, 20e 2nd Quarter 13,200 3rd Quarter 15,200 4th Quarter 14,200 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 $72,600 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 quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,640 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 as a whole Complete this question by entering your answers in the tabs below. Required Required 2 Required Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2nd Quarter and Quarter 4th Quarter You Total sales The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales account) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 12,200 13,200 15,200 14,200 The selling price of the company's product is $21 per unit. Management expects to collect 65% of sales in the quarter in which th sales are made 30% in the following quarter, and 5% of sales are expected to be uncollectible The beginning balance of accou receivable, all of which is expected to be collected in the first quarter, is $72,600. The company expects to start the first quarter with 2,440 units in finished goods inventory Management desires an ending finish goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods inventory the fourth quarter is 2,640 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 as a whole. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter Ath Quarter Total cash collections Year 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 12, 20e 13,200 15,280 14,200 The selling price of the company's product is $21 per unit. Management expects to collect 65% of sales in the quartet 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 $72.600 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 quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 2,640 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 as a whole Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Required production in units
