A C D DE G Chapter 8: Applying Excel Data Year 2 Quarter 2 3 60,000 100,000 Year 3 Quarter 1 2 70,000 80,000 Budgeted unit sales 40 000 50,000 $8 per unit $65,000 75% 25% 30% of the budgeted unt 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 T - Selling price per unit Accounts receivable beginning balance - Sales collected in the quarter sales are made Sales collected in the quarter after sales are made Desired ending finished goods Inventory is - Finished goods Inventory, beginning Raw materials required to produce one unit Desired ending Inventory of raw materials is Raw materials inventory beginning Raw material costs Raw materials purchases are paid 3 and Accounts payable for raw materials, beginning balance 3 Enter a formula info each of the cols marked with a ? below 2 Review Problem: Budget Schedules 3 4 Construct the sales budget 5 -6 Budgeted unt sales 27 Selling price per unit 18 Total sales 29 30 Construct the schedule of expected cash collections 31 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 salos 42 Add desired finished goods inventory 43 Total needs 44 Less beginning inventory 45 Required production 46 Chapter 8 Form + 2 2 2 Yoar 2 Quarter 2 3 ? 2 32 2 2 ? Year 3 Quarter 2 2 2 2 2 2 12 Year 2 Quarter 2 3 1 Year 2 2 2 2 2 ? 211 Year 2 Quarter Year 3 Quarter Year 2 ? D G 2 ? Year 3 Quarter 1 7 2 ? 2 45 Required production 46 47 Construct the raw materials purchases budget 48 49 Required production (units) 50 Raw materials required to produce one unt 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 69 70 71 72 2 ? 2 2 ? ? 2 2 ? Year 2 Quarter 2 3 2 2 2 2 2 2 2 ? 2 2 2 2 2 2 ? ? 2 ? 2 2 ? 2 2 ? 2 ? 2 Year ? 7 2 2 ? 2 7 2 2 Year 2 Quarter 2 3 1 2 2 2 2 2 2 Year ? 2 7 2 2 2 ? 2 2
