1. Check your worksheet by changing the budgeted unit sales in Quarter 2 of Year 2 in cell C5 to 75,000 units. The total expected cash collections for the year should now be $2,085,000. The required production for the year should be 274,000 units. The cost of raw materials to be purchased for the year should be $1,106,800, whereas the total cash disbursements for the year should be $1,095,980. If you do not get this answer, find the errors in your worksheet and correct them. Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2. - Sales collected in the quarter after sales are made 25% of the budgeted unit sales - Desired ending finished goods of the next inventory is 30% quarter - Finished goods inventory, beginning 12000 units - Raw materials required to produce one unit 5 pounds of the naxt of the next quarter's - Desired ending inventory of raw production materials is 10% needs - Raw materials inventory, beginning 23000 pounds - Raw material costs $0,80 per pound in the quarter the purchases - Raw materials nurchases are naid 60% are made - Raw materials purchases are paid 60% are made in the quarter following and 40% purchase - Accounts payable for raw materials, beginning balance $81500 Enter a formula into each of the cells marked with a ? below Review Problem: Budaet Schedules Review Problem: Budget Schedules Construct the sales budget Budgeted unit sales Selling price per unit Total sales Construct the schedule of expected cash collections Year 2 Quarter 1234 Year Anmainte maniwahle haninniun Accounts receivable, beginning BudgetedunitsalesAdddesiredfinishedgoodsinventoryTotalneedsLessbeginninginventoryRequiredproductionConstructtherawmaterialspurchasesbudgetQuarter?????????????????????????????Year3 Required production (units) Raw materials required to produce one unit Production needs (pounds) \begin{tabular}{cccccc} ? & ? & ? & ? & ? & ? \\ \hline? & ? & ? & ? & ? & ? \end{tabular} Add desired ending inventory of raw materials (pounds) Total needs (pounds) \begin{tabular}{ccccc} ? & ? & ? & ? & ? \\ \hline? & ? & ? & ? & ? \end{tabular} Less beginning inventory of raw materials (pounds) ? ? ? ? ? Construct the schedule of expected cash payments Accountspayable,beginningbalanceFirst-quarterpurchasesSecond-quarterpurchasesThird-quarterpurchasesFourth-quarterpurchasesTotalcashdisbursements1??2??3??4??Year