Saved Help The marketing department of Jessi Corporation has submtted the follow

Question

Saved Help The marketing department of Jessi Corporation has submtted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 12,400 13,400 15,400 14,400 sales are made. 30% in the following quarter and 5% receivable, all of which is expected to be collected in the first quarter, is $73,000 's product is $23 per unit. Management expects to collect 65% of sales in the quarter in which the of sales are expected to be uncollectible. The beginning balance of accounts The company expects to start the first quarter with 2,480 units in finished goods inventory. Management desires an goods inventory in each quarter equal to 20% of the next quarter's budgeted sales. The desired ending finished goods i the fourth quarter is 2,680 units. ending finished nventory for 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 1 Required 2 Required 3 Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th QuarterYear Total sales Required 2

Explanation / Answer

1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year a) Total sales 285200 308200 354200 331200 1278800 b) Expected Cash Collections: From previous quarter sales 73000 85560 92460 106260 357280 From current quarter sales 185380 200330 230230 215280 831220 Expected Cash Collections 258380 285890 322690 321540 1188500 3) Sales in units 12400 13400 15400 14400 55600 Desired ending inventory 2680 3080 2880 2680 2680 Total units required 15080 16480 18280 17080 58280 Less: Beginning inventory 2480 2680 3080 2880 2480 Required production in units 12600 13800 15200 14200 55800

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.