The marketing department of Kyle Corporation has submitted the following sales forecast for the upcoming fiscal year: Budgeted sales (units) 1st Quarter 9,400 2nd Quarter 11,400 3rd Quarter 13,400 Required: 1-a. Prepare the company's sales budget. 4th Quarter 12,400 The selling price of the company's product is $34 per unit. Management expects to collect 60% of sales in the quarter in which the sales are made and 35% in the following quarter; 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which are expected to be collected in the first quarter, is $94,500. The company expects to start the first quarter with 2,700 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 2,950 units.

The marketing department of Kyle Corporation has submitted the following sales forecast for the upcoming fiscal year: The selling price of the company's product is $34 per unit. Management expects to collect 60% of sales in the quarter in which the sales are made and 35% in the following quarter, 5% of sales are expected to be uncollectible. The beginning balance of accounts recelvable, all of which are expected to be collected in the first quarter, is $94,500. The company expects to start the first quarter with 2,700 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 2,950 units. Required: 1-a. Prepare the company's sales budget. The marketing department of Kyle Corporation has submitted the following sales forecast for the upcoming fiscal year: The selling price of the company's product is $34 per unit. Management expects to collect 60% of sales in the quarter in which the sales are made and 35% in the following quarter; 5% of sales are expected to be uncollectible. The beginning balance of accounts recelvable, all of which are expected to be collected in the first quarter, is $94,500. The company expects to start the first quyrter with 2,700 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 2,950 units. Required: 1-a. Prepare the company's sales budget. 1-b. Prepare the schedule of expected cash collections. 2. Prepare the company's production budget for the upcoming fiscal year