The marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 11, 380 12, 360 14,380 13, 360 The selling price of the company's product is $12 per unit. Management expects to collect 75% of sales In the quarter In which the sales are made and 20% In the following quarter, 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 $70,800. The company expects to start the first quarter with 1,695 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 1,895 units. Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production In units of finished goods for each quarter 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 estimated sales for each quarter and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total salesThe marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 11, 380 12, 308 14,380 13, 308 The selling price of the company's product is $12 per unit. Management expects to collect 75% of sales In the quarter In which the sales are made and 20% In the following quarter, 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 $70,800. The company expects to start the first quarter with 1,695 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 1,895 units. Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter 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 and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total cash collectionsThe marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account): 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Budgeted unit sales 11, 380 12, 300 14,380 13, 360 The selling price of the company's product Is $12 per unit. Management expects to collect 75% of sales In the quarter In which the sales are made and 20% In the following quarter, 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 $70,800. The company expects to start the first quarter with 1,695 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 1,895 units. Required: 1. Calculate the estimated sales for each quarter and for the year as a whole. 2. Calculate the expected cash collections for each quarter and for the year as a whole. 3. Calculate the required production In units of finished goods for each quarter 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 and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Required production in units