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ms My Grades-ECO ?? UND UND: U Em ail Tech supp: a Mail-denrisache "Sign in to your acc nnect-Spotify Connect × ? X × × X CSecure https//newconnect.mheducation.com/flow/connect.html Apps syllabus fine arts Ch. 8: Homework Saved Help Save & Exit Submit 5 Check my work 1 Exercise 8-14 Sales and Production Budgets [LO8-2, L08-3] The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): points 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 13,703 Budgeted unit sales 11,780 12,700 14,780 eBook Print The selling price of the company's product is $16 per unit. Management expects to collect 75% of sales in the quarter in which the sales are made, 20% 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 $71.600. References The company expects to start the first quarter with 1,755 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 1,955 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 Prev 1 of 5 Next> Graw MKTG10 SE_Ch10.... ppt Chapter 5 proble... pafChs 5 Addidtional .. pof Show all XExplanation / Answer
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Sales budget
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Cash receipts budget
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1st quarter 2nd quarter 3rd quarter 4th quarter Year Sales in units 11,700 12,700 14,700 13,700 52,800 Selling price per unit 16 16 16 16 16 Total sales 187,200 (11,700*16) 203,200 (12,700*16) 235,200 (14,700*16) 219,200 (13,700*16) 844,800Related Questions
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