1

# The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

## Question

###### The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal...

The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st Quarter 12,400 2nd Quarter 13,400 3rd Quarter 15,400 4th Quarter 14,400 Budgeted unit sales The selling price of the company's product is \$23 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 \$73.000. The company expects to start the first quarter with 2,480 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 2,680 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. Required Required Required 1 | 2 | Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. 1st 2nd Quarter Quarter 3rd Quarter 4th Quarter Year med Total sales Required 1 Required 2 >
Complete this question by entering your answers in the tabs below. Required Required Required 1 2 3 Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Year Total cash collections < Required 1 Required 3 >
Complete this question by entering your answers in the tabs below. Required Required Required Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Year Required production in units < Required 2 Required 3)

#### Similar Solved Questions

##### Engineering Economics?
A friend was left \$50,000 by his uncle. He has decided to put it into a saving accountfor the next year or so. He finds there are varying interest rates at savings institution:4.375 % compounded annually, 4.25% compounded quarterly, and 4.125%compounded continuously. He wishes to select the savings ...
##### A. The fifteen-year bond yields 6.7% and has a coupon of 8.7%. If this yield to...
a. The fifteen-year bond yields 6.7% and has a coupon of 8.7%. If this yield to maturity remains unchanged, what will be its price one year hence? Assume annual coupon payments and a face value of \$100. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price  &nbs...
##### Determine the oxidizing agent, reducing agent, the substance being oxidized, and the substance being reduced in...
Determine the oxidizing agent, reducing agent, the substance being oxidized, and the substance being reduced in each reaction in Part 1. Write the reduction half reactions for all four reactions in Part 1. It was put into a solution of copper gluconate with dH2O and NaCl   Metal | Al (Tri...
##### . "It should be illegal for an employer to ask job applicants for their Facebook passwords."...
. "It should be illegal for an employer to ask job applicants for their Facebook passwords." Do you agree with this statement? Why or why not?...
##### Two charged spheres, each with charge +2 µC, are connected by a massless string of length...
Two charged spheres, each with charge +2 µC, are connected by a massless string of length L=1 m. The whole configuration is stationary. What is the tension in the string between them? (For this problem, ignore gravity)...
##### An alongshore current and breaker wave height are measured as 3.4 ft/s and 6ft, respectively. For...
An alongshore current and breaker wave height are measured as 3.4 ft/s and 6ft, respectively. For a beach slope of 1:25 with straight and parallel depth contours, determine the angle ofwave approach at the breaker zone....
##### If a student randomly guesses at 20 questions, find the probability that the student gets exactly...
If a student randomly guesses at 20 questions, find the probability that the student gets exactly four correct. Each question has four possible choices. multiple-choice...
##### A long copper wire of radius 10cm is laid on the ocean floor connecting an island...
A long copper wire of radius 10cm is laid on the ocean floor connecting an island to the mainland A small species of shrimp is sensetive to magnetic fields, and it will die if subjected to a field strength greater than 0.004T. What current run through the cable would produce a magneticfield of this ...
##### Chapter 04, Problem 101 In the figure, a ball is shot directly upward from the ground...
Chapter 04, Problem 101 In the figure, a ball is shot directly upward from the ground with an initial speed of vo 9.20 m/s. Simultaneously, a construction elevator cab begins to move upward from the ground with a constant speed of vc = 2.80 m/s, what maximum height does the ball reach relative to (a...
##### An object is propelled upward at an initial velocity of 32 feet per second at an...
An object is propelled upward at an initial velocity of 32 feet per second at an initial elevation of 48 feet above the ground. The free-fall model used to describe the motion is: s(t) = -1672 + 32t +48 for 03033 (t seconds from release of object). Reference: Drop the Ball Activity The average veloc...
##### Do you believe the criminal prosecutions of Enron Corporation’s CEO and Martha Stewart will serve as...
Do you believe the criminal prosecutions of Enron Corporation’s CEO and Martha Stewart will serve as a deterrent to such greed?...
##### 19. What is NOT a risk of being underweight? a. high risk of death following surgery....
19. What is NOT a risk of being underweight? a. high risk of death following surgery. b. death from starvation when suffering from cancer. c. early death during a famine or in a siege. d. high risk of developing heart disease. e. deterioration of nutrition status during hospitalization. 20. Waist ci...