Chapter 8 Applying Excel_Student Form (1) Insert Page Layout Formulas Data Review View Cut Copy Format Home Arial 10A IT) Wrap Text General Paste B IU | x \/ f. Chapter 8: Applying Excel A1 1 Chapter 8: Applying Excel 3 Data 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 40,000 60,000 100,000 50,000 70,000 B0,000 Selling price per unit $8 per unit $65.000 8Accounts receivable, beginning balance 9Sales collected in the quarter sales are made 10Sales collected in the quarter after sales are made 11Desired ending finished goods inventory is 12Finished 13Raw materials required to produce one unit 14Desired ending inventory of raw materials is 5 Raw materials inventory, beginning 16Raw material costs 17Raw materials purchases are paid 18 and 19Accounts payable for raw materials, beginning balance 20 21 Enter a formula into each of the cells marked with a ? below 22 Review Problem: Budget Schedules 23 24 Construct the sales budget 25 26 Budgeted unit sales 27 Selling price per unit 28 Total sales 29 30 Construct the schedule of expected cash collections 31 32 Accounts receivable, beginning balance 33 First-quarter sales 34 Second-quarter sales 35 Third-quarter sales 36 Fourth-quarter sales 37 Total cash collections 38 39 Construct the production budget 25% 30% of the budgeted unit sales of the next quarter hed goods inventory,beginning 12,000 units 5 pounds 10% of the 23,000 pounds next quarter's production needs $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase $81,500 Year 2 Quarter Year 3 Quarter Year 2 Quarter Year 2 Quarter Year 3 Quarter 41 Budgeted unit sales 42 Add desired finished goodsi 43 Total needs 44 Less beginning inventory 45 Required production