The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 11,900 2nd Quarter 12,900 3rd Quarter 14,900 4th Quarter 13,900 Budgeted unit sales The selling price of the company's product is $18 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 $72,000 The company expects to start the first quarter with 1,785 units in finished goods inventory. Management desires an ending finished goods inventory in each quarter equal to 15% of the next quarter's budgeted sales. The desired ending finished goods inventory for the fourth quarter is 1,985 units. Required 1-a. Complete the company's sales budget. Jessi Corporation Sales Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted units sales Selling price per unit Total sales 53,600 18 S 214,200 S 232,200 S 268,200S 250,200S 964,800 11,900 12,900 14,900 13,900 S 18 S 18 S 18 S 18 S 1-b. Complete the schedule of expected cash collections Jessi Corporation Schedule of Expected Cash Collections 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 72,000 Beginning accounts receivable 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections S 72,000 $ 72,000 S 72,000 2. Prepare the company's production budget for the upcoming fiscal year Jessi Corporation Production Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Budgeted unit sales Total needs Required production in units