The marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account): The selling price of the company's product is $20 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 $72,400. The company expects to start the first quarter with 2,420 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 2,620 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. Calculate the expected cash collections for each quarter and for the year as a whole. The marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales ate on account): The selling price of the company's product is $20 per unit. Management expects to collect 75% of sales in the quarter in which the sale: are made and 20% in the following quarter, 5% of sales are expected to be uncollectible. The beginning balance of accounts recelvable all of which is expected to be collected in the first quarter, is $72,400. The company expects to start the first quarter with 2,420 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 2,620 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. Calculate the estimated sales for each quarter and for the year as a whole. The marketing department of Jessi Corporation submitted the following sales forecast for next year (all sales are on account): The selling price of the company's product is $20 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made and 20% in the following quorter; 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 $72,400. The company expects to start the first quarter with 2,420 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 2,620 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. Calculate the required production in units of finished goods for each quarter and for the year as a whole
