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Fortin Limited produces and sells a single product, a wearable LEO light for runners and...

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Accounting

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Fortin Limited produces and sells a single product, a wearable LEO light for runners and cyclists. The analytics group at Fortin Limited has developed the following estimates for unit sales in the upcoming year The light sells for $60 per unit and all soles are on account. 75% of soles are expected to be collected in the quarter of sale, with the remainder in the following quarter. Accounts recelvable of the beginning of the quarter were $165,000 and will all be collected during the first quartes of the yeat At the end of the previous quarter there were 2.200 units in finished goods imventory. The desired ending finished goods inventory at the end of each quarter is 10% of the next quarter's budgeted sales. Management expects sales in the fourth quarter of the upcoming year to be the same as the first quarter of the following yeat Required: 1-6. Prepare the company's sales budget. 1-b. Prepare the schedule of expected cash collections. 2. Prepare the company's production budget for the upconing fiscal year

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