Section 1 Assignment 5 [Compatibility Mode] - Excel (Product Activation Failed) ? 0 - 2X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in P57 X Vfx A B C D E F G H J K L M N P Q R 1 Budgeting: Applying Excel 3 Data Year 2 Year 3 4 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Quarter 1 Quarter 2 Budgeted unit sales 50,000 75,000 35,000 90,000 55,000 85,000 . Selling price per unit $20 8 . Accounts receivable, beginning balance $95,000 9 . Sales collected in the quarter sales are made 70% 10 . Sales collected in the quarter after sales are made 30% 11 . Desired ending finished goods inventory is 35% of the budgeted unit sales of the next quarter 12 . Finished goods inventory, beginning 8,000 units 13 . Raw materials required to produce one unit 3 pounds 14 . Desired ending inventory of raw materials is 40% of the next quarter's production needs 15 . Raw materials inventory, beginning 25,000 pounds 16 . Raw material costs $1.25 per pound 17 . Raw materials purchases are paid 80% in the quarter the purchases are made 18 and 20% in the quarter following purchase 19 . Accounts payable for raw materials, beginning balance $65,000 20 Enter a formula into the cells below to complete the following budgets: 22 24 Sales Budget Year 2 Year 3 25 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 2 Total Quarter 1 Quarter 2 26 Budgeted unit sales 50,000 75,000 35,000 90,000 2,50,000 55,000 85,000 27 Selling price per unit $20 $20 $20 $20 $20 $20 $20 28 Total sales $10,00,000 $15,00,000 $7,00,000 $18,00,000 $50,00,000 $11,00,000 $17,00,000 29 30 Schedule of Expected Cash Collections Budget Year 2 31 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 2 Total 32 Beginning balance accounts receivable $ 95,000 $ $ 95,000 33 First-quarter sales 7,00,000 $ 3,00,000 10,00,000 34 Second-quarter sales 10,50,000 $4,50,000 15,00,000 35 Third-quarter sales 4,90,000 $ 2,10,000 7,00,000 36 Fourth-quarter sales 18,00,000 18,00,000 37 Total cash collections $ 7,95,000 $13,50,000 $9,40,000 $ 20,10,000 $50,95,000 The total cash collection of the year is 50,95,000 /- 38 39 Production Budget Year 2 Year 3 40 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 2 Total Quarter 1 Quarter 2 41 Budgeted unit sales 50,000 75,000 35,000 90,000 2,50,000 55,000 85,000 42 Add desired ending finished goods inventory (35% of next quarter) 43 Total needs Group members Case Assignment 4 ENTER 85% O e e X ] (7 1)) ENG 12:48 Type here to search 21-06-2021Section 1 Assignment 5 [Compatibility Mode] - Excel (Product Activation Failed) ? 0 - 5X FILE HOME INSERT PAGE LAYOUT FORMULAS DATA REVIEW VIEW Sign in M38 I X Y fx A B C D G H J K L M N P Q R 38 39 Production Budget Year 2 Year 3 40 Quarter 1 Q Quarter 2 Quarter 3 Quarter 4 Year 2 Total Quarter 1 Quarter 2 41 Budgeted unit sales 50,000 75,000 35,000 90,000 2,50,000 55,000 85,000 42 Add desired ending finished goods inventory (35% of next quarter) 43 Total needs 44 Less beginning finished goods inventory 45 Required production in units 46 47 Raw Materials Purchases Budget Year 2 Year 3 48 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 2 Total Quarter 1 49 Required production (units) 50 Raw materials required to produce one unit (pounds) 51 Production needs (pounds) 52 Add desired ending inventory of raw materials (pounds) 53 Total needs (pounds) 54 Less beginning inventory of raw materials (pounds) 55 Raw materials to be purchased (pounds) 56 Cost of raw materials per pound 57 Cost of raw materials to be purchased 58 59 Schedule of Expected Cash Disbursements Year 2 60 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 2 Total 61 Beginning balance accounts payable 62 First-quarter purchases 63 Second-quarter purchases 64 Third-quarter purchases 65 Fourth-quarter purchases 66 Total cash disbursements 67 68 69 70 71 72 73 74 75 76 77 78 79 80 Group members Case Assignment 4 + READY w -- 85% Type here to search O merge 1 ( )) ENG 12:49 21-06-2021