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The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year 3. 2nd 1st Quarter 8,900 Dudgeted sales (units) Quarter 10,900 3rd Quarter 12,990 th luarter 11,900 10 The selling price of the company's product is $29 per unit. Management ets to collect 65% of sales in the who sales are made and 30% in the following quarter, 5% of sales are expecte pe uncollectible. The beginnefact receivable, all of which are xpected to be collected in the first quarter, 300 The company expects to the first quarter with 2.450 units in finished goods Inventory Management desires aming fir goods inventory in each carter equal to 15% of the next quarter's budgeted sales. The desired ending finished goo ventil the fourts quarter is 2,700 nits Required: 1. Prepare the compansales budget JESSE CORPORATION Salesudget Unit Quarter ni Ouarter to e Acuarter Year Tule Schedule of Expected Cost Collections 1st Quarter Zad Quartet 3rd Quarter athu 3 Accounts receivable, beginning balance 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections 10 D OR$20 2. Prepare the company's production budget for the upcoming fiscal year, JESSE CORPORATION Production Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Tonts needed MC Gra HI PROY 315 Next The marketing department of Jesse Corporation has submitted the following sales forecast for the upcoming fiscal year 3 Quarter nd Quarter 10.900 Outer 17.900 4.900 Quer 11,00 Bu units) 10 be The selling price of the company's product is $29 per unit Management expects to collect 65% of sales in the quarter in which the Wates are made and 30% 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 $89.500 The company expects to start the first quarter with 2.450 units in finished goods inventory Management desres 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 quarters 2700 units Required: 1. Prepare the company's sales budget SESSI CORPORATION Salisbud 2niture 3rd Quarter ith Quarte ist Our Year You M