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The marketing department of Jess! Corporation has submitted the following sales forecast for the upcoming fiscal...

Question:

The marketing department of Jess! Corporation has submitted the following sales forecast for the upcoming fiscal year (all sa

The marketing department of Jess! Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account: th lat Quarter 11,000 2nd 3rd Quarter Quarter 12,000 14,000 Badgeted unit Quarter 13,000 The selling price of the company's product is $18.00 per unit Management expects to collect 65% of sales in the quarter in which the sales are made, 30% In the following quarter, and 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 $70,200. The company expects to start the first quarter with 1,650 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 1,850 units. Required: 1. Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 2. Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3. Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. Complete this question by entering your answers in the tabs below. Required Required Required Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole 2nd Quarter 3rd Quarter Quarter Quarter Year Total sales Required 2 >

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Sales Budget litevarden luna Quarter Budgeted amit Sales1,000 12.000 Selling price perunit $18 * $ 18 Qureten ist ausuler yeaProduction Budget | pst Quarter and Quarter good Quarter con Quarter year Budgeted emis-sales 11000 12000 | 14000 | 13000 | 5If you have any query ask in comment section. If you like my work plz rate. Thanks

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