Required 1 Required 2 Required 3 Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3rd Quarter 4th Quarter 1st Quarter 2nd Quarter Total cash collections < Required 1 Required 3 > Year Required 1 Required 2 Required 3 Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Required production in units < Required 2 Required 3 > Year Exercise 8-14 (Algo) Sales and Production Budgets [LO8-2, LO8-3] The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 11,800 12,800 14,800 13,800 The selling price of the company's product is $17 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 $71,800. The company expects to start the first quarter with 1,770 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 1,970 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 1 Required 2 Required 3 Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. Total sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter < Required 1 Required 2 > Year
Required 1 Required 2 Required 3 Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole. 3rd Quarter 4th Quarter 1st Quarter 2nd Quarter Total cash collections < Required 1 Required 3 > Year Required 1 Required 2 Required 3 Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Required production in units < Required 2 Required 3 > Year Exercise 8-14 (Algo) Sales and Production Budgets [LO8-2, LO8-3] The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): Budgeted unit sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter 11,800 12,800 14,800 13,800 The selling price of the company's product is $17 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 $71,800. The company expects to start the first quarter with 1,770 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 1,970 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 1 Required 2 Required 3 Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole. Total sales 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter < Required 1 Required 2 > Year
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter9: Profit Planning And Flexible Budgets
Section: Chapter Questions
Problem 50E: Use the following information for Exercises 9-50 and 9-51: Assume that Stillwater Designs produces...
Related questions
Question
Transcribed Image Text:Required 1 Required 2
Required 3
Calculate the expected cash collections for each quarter of the fiscal year and for the year as a whole.
3rd Quarter 4th Quarter
1st Quarter 2nd Quarter
Total cash collections
< Required 1
Required 3 >
Year
Required 1 Required 2 Required 3
Calculate the required production in units of finished goods for each quarter of the fiscal year and for the year as a whole.
1st Quarter 2nd Quarter 3rd Quarter
4th Quarter
Required production in units
< Required 2
Required 3 >
Year
![Exercise 8-14 (Algo) Sales and Production Budgets [LO8-2, LO8-3]
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on
account):
Budgeted unit sales
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
11,800
12,800
14,800
13,800
The selling price of the company's product is $17 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 $71,800.
The company expects to start the first quarter with 1,770 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 1,970 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 1
Required 2 Required 3
Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole.
Total sales
1st Quarter 2nd Quarter 3rd Quarter
4th Quarter
< Required 1
Required 2 >
Year](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61932d2a-2f00-4d4f-9d4e-c4195d29ca78%2F565ed648-c1c0-4eb1-81dd-4d83beb7a6b6%2Ftto9l6_processed.png&w=3840&q=75)
Transcribed Image Text:Exercise 8-14 (Algo) Sales and Production Budgets [LO8-2, LO8-3]
The marketing department of Jessi Corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on
account):
Budgeted unit sales
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
11,800
12,800
14,800
13,800
The selling price of the company's product is $17 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 $71,800.
The company expects to start the first quarter with 1,770 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 1,970 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 1
Required 2 Required 3
Calculate the estimated sales for each quarter of the fiscal year and for the year as a whole.
Total sales
1st Quarter 2nd Quarter 3rd Quarter
4th Quarter
< Required 1
Required 2 >
Year
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