Business, 02.08.2019 17:10 princesstn28oqlfir

The marketing department of jessi corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st quarter 2nd quarter 3rd quarter 4th quarter budgeted unit sales 13,000 14,000 16,000 15,000 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 sales are made, 30% in the following quarter, and 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 $74,200. the company expects to start the first quarter with 2,600 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 2,800 units. required: 1-a. complete the company's sales budget. 1-b. complete the schedule of expected cash collections. 2. prepare the company’s production budget for the upcoming fiscal year.

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