MGMTssoo - Final Exam 0 SaVEd Help Save& Exit Submi1 10 points The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming scal year: . Ist grid\". __ 3rd 4'Eh Quarter Warts!\" Quarter Quarter Budgeted sales (units) 9,396 11,389 13,396 12,366 The selling price of the corn pany's product is $33 per unit. Management expects to collect 55% of sales in the quarter in which the sales are made and 40% in the following quarter; 5% of sales are expected to be uncollectible. The beginning balance of accounts receivable, all of which are expected to be collected in the first quarter, is $93,500. The company expects to start the rst quarter with 2,650 units in nished 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 nished goods inventory for the fourth quarter is 2,900 units. Required: 1-a. Prepare the company's sales budget. MGM 1 8500 - Final Exam 1 Saved Help Save & Exit Submit 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year 4 Total sales 10 1-b. Prepare the schedule of expected cash collections. points 02:26:38 JESSI CORPORATION Schedule of Expected Cash Collections 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Accounts receivable, beginning balance 1st Quarter sales 2nd Quarter sales 3rd Quarter sales 4th Quarter sales Total cash collections2. Prepare the company's production budget for the upcoming scai year. 10 points