The marketing department of jessi corporation has submitted the following sales forecast for the upcoming fiscal year (all sales are on account): 1st quarter 2nd quarter 3rd quarter 4th quarter budgeted unit sales 12,600 13,600 15,600 14,600 the selling price of the company’s product is $25 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 $73,400. the company expects to start the first quarter with 2,520 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 2,720 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.