V Chapter 8: Applying Excel A1 1 Chapter 8: Applying Excel 3 Data 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 70,000 60,000 100,000 50,000 80,000 40,000 Selling price per unit $8 per unit 8Accounts receivable, beginning balance 9. Sales collected in the quarter sales are made 10Sales collected in the quarter after sales are made 11 Desired ending finished goods inventory is 12. Finished goods inventory, beginning 13Raw materials required to produce one unit 14 Desired ending inventory of raw materialss 15 Raw materials inventory, beginning 16 Raw material costs 17.Raw materials purchases are paikd 18 and 19 Accounts payableforaw materials, beginning balance 20 21 Enter a formula into each of the cells marked with a beow 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 40 41 Budgeted unit sales 42 Add desired finished goods inventory 43 Total needs 44 Less beginning inventory 45 Required production 46 47 Construct the raw materials purchases budget $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $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 Year 2 Quarter Year 3 Quarter Year Year 2 Quarter Year 3 Quarter Year Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. x V fc Chapter 8: Applying Excel A1 37 Total cash collections 38 39 Construct the production budget 40 41 Budgeted unit sales 42 Add desired finished goods inventory 43 Total needs 44 Less beginning inventory 45 Required production 46 47 Construct the raw materials purchases budget 48 49 Required production (units) 50 Raw materials required to produce one unit 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 56 Cost of raw materials per pound 57 Cost of raw materials to be purchased 58 59 Construct the schedule of expected cash payments 60 61 Accounts payable, beginning balance 62 First-quarter purchases 63 Second-quarter purchases 64 Third-quarter purchases 65 Fourth-quarter purchases 66 Total cash disbursements 67 68 Year 2 Quarter Year 3 Quarter Year Year 2 Quarter Year 3 Quarter Year Year 2 Quarter Year check my work Requirement 2 The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Year 2 Quarter Year 3 Quarter Data Budgeted unit sales Selling price per unit 50,000 65,000 105,000 65,000 90,000 95,000 $7 1 Chapter 8: Applying Excel 3 Data 4 5 Budgeted unit sales Year 3 Quarter 65,000 105,000 50,000 65,000 90,000 95,000 7 per unit Selling price per unit 8Accounts receivable, beginning balance 9Sales collected in the quarter sales are made 10 Sales collected in the quarter after sales are made 11 Desired ending finished goods inventory is 12 Finished goods inventory, beginning 13 Raw materials required to produce one unit 14Desired ending inventory of raw materials is $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 15Raw materials inventory, beginning 23,000 pounds 16 Raw material costs 0.80 per pound Chapter 8 Applying Excel (A) Saved Help Save & Exit Submit Check my work 2 0 Required information 15Raw materials inventory, beginning 16Raw material costs 17.Raw materials purchases are paid 18 ad 19Accounts payable for raw materials, beginning balance$ 23,000 pounds Part 2 of 2 080 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase 10 points $81,500 eBook Print References a. What are the total expected cash collections for the year under this revised budget? d cash collections for the b. What is the total required production for the year under this revised budget? required production for the Chapter 8 Applying Excel (A) i Saved Help Save & Ei Submit Check my work 2 Required information C. What is the total cost of raw materials to be purchased for the year under this revised budget? Part 2 of 2 raw ma 10 points eBook Print References d. What are the total expected cash disbursements for raw materials for the year under this revised budget? cash disbursement for raw materials for the year e. After secing this revised budget, the production manager cautioned that due to the current production constraint, a complex milling machine, the plant can produce no more than 80,000 units in any one quarter. Is this a potential problem? Yes No V Chapter 8: Applying Excel A1 1 Chapter 8: Applying Excel 3 Data 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 70,000 60,000 100,000 50,000 80,000 40,000 Selling price per unit $8 per unit 8Accounts receivable, beginning balance 9. Sales collected in the quarter sales are made 10Sales collected in the quarter after sales are made 11 Desired ending finished goods inventory is 12. Finished goods inventory, beginning 13Raw materials required to produce one unit 14 Desired ending inventory of raw materialss 15 Raw materials inventory, beginning 16 Raw material costs 17.Raw materials purchases are paikd 18 and 19 Accounts payableforaw materials, beginning balance 20 21 Enter a formula into each of the cells marked with a beow 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 40 41 Budgeted unit sales 42 Add desired finished goods inventory 43 Total needs 44 Less beginning inventory 45 Required production 46 47 Construct the raw materials purchases budget $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds $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 Year 2 Quarter Year 3 Quarter Year Year 2 Quarter Year 3 Quarter Year Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. x V fc Chapter 8: Applying Excel A1 37 Total cash collections 38 39 Construct the production budget 40 41 Budgeted unit sales 42 Add desired finished goods inventory 43 Total needs 44 Less beginning inventory 45 Required production 46 47 Construct the raw materials purchases budget 48 49 Required production (units) 50 Raw materials required to produce one unit 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 56 Cost of raw materials per pound 57 Cost of raw materials to be purchased 58 59 Construct the schedule of expected cash payments 60 61 Accounts payable, beginning balance 62 First-quarter purchases 63 Second-quarter purchases 64 Third-quarter purchases 65 Fourth-quarter purchases 66 Total cash disbursements 67 68 Year 2 Quarter Year 3 Quarter Year Year 2 Quarter Year 3 Quarter Year Year 2 Quarter Year check my work Requirement 2 The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Year 2 Quarter Year 3 Quarter Data Budgeted unit sales Selling price per unit 50,000 65,000 105,000 65,000 90,000 95,000 $7 1 Chapter 8: Applying Excel 3 Data 4 5 Budgeted unit sales Year 3 Quarter 65,000 105,000 50,000 65,000 90,000 95,000 7 per unit Selling price per unit 8Accounts receivable, beginning balance 9Sales collected in the quarter sales are made 10 Sales collected in the quarter after sales are made 11 Desired ending finished goods inventory is 12 Finished goods inventory, beginning 13 Raw materials required to produce one unit 14Desired ending inventory of raw materials is $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 15Raw materials inventory, beginning 23,000 pounds 16 Raw material costs 0.80 per pound Chapter 8 Applying Excel (A) Saved Help Save & Exit Submit Check my work 2 0 Required information 15Raw materials inventory, beginning 16Raw material costs 17.Raw materials purchases are paid 18 ad 19Accounts payable for raw materials, beginning balance$ 23,000 pounds Part 2 of 2 080 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase 10 points $81,500 eBook Print References a. What are the total expected cash collections for the year under this revised budget? d cash collections for the b. What is the total required production for the year under this revised budget? required production for the Chapter 8 Applying Excel (A) i Saved Help Save & Ei Submit Check my work 2 Required information C. What is the total cost of raw materials to be purchased for the year under this revised budget? Part 2 of 2 raw ma 10 points eBook Print References d. What are the total expected cash disbursements for raw materials for the year under this revised budget? cash disbursement for raw materials for the year e. After secing this revised budget, the production manager cautioned that due to the current production constraint, a complex milling machine, the plant can produce no more than 80,000 units in any one quarter. Is this a potential problem? Yes No