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	11,500	12,500	14,500	13,500

The selling price of the companys product is $14 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 $71,200.

The company expects to start the first quarter with 1,725 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarters budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,925 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.

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

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	4th Quarter	Year
Total cash collections

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