The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (a

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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 11,000 12,000 14,000 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 receivable, 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.
*Please explain each step/ calculation you used*