Chapter 8: Applying Excel: Excel Worksheet (Port 1 of 2) Downlond the Applying Excel form and enter formules in or calls that contain question marts Foxwal, me enter the form Check you het by doing we de nature. There are for your house 234.000 The conteftator to be purchase they should be $106.00, where the total cash disbursements for the your thoud beslos.no you do not get this weens your worksheet and cover 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 question in Part 2 1 Chapter 8: Applying Excel 2 3 Data Year 2 Quarter Year 3 Quarter 4 1 2 3 4 1 2 5 Budgeted unit sales 40,000 60,000 100,000 50,000 70.000 80.000 6 7. Selling price per unit 58 8. Accounts receivable, beginning balance $65,000 9 Sales collected in the quarter sales are made 75% 10. Sales collected in the quarter after sales are made 25% 11. Desired ending finished goods inventory is 30% of the budgeted unit sales of the next quarter 12. Finished goods inventory, beginning 12,000 units 13 - Raw materials required to produce one unit 5 pounds 14. Desired ending inventory of raw materials is 10% of the next quarter's production needs 15. Raw materials entory beginning 23,000 pounds 16. Raw material costs 50.80 per pound 17. Raw materials purchases are paid 60% in the quarter the purchases are made 18 40% in the quarter following purchase 19. Accounts payable for raw materials, beginning balance $81,500 20 21. Enter a formula into each of the cells marked with a ? below 22 Review Problem: Budget Schedules 23 and Year 2 Quarter 2 3 ? ? ? ? ? ? ? ? Year 3 Quarter 1 2 2 2 2 ? ? ? 2 ? Year 2 Quarter 2 3 1 4 ? ? 2 2 2 ? Year 2 2 2 ? 7 2 2 2 2 ? ? 2 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 salos 27 Selling price per unit 28 Total sales 29 30 Construct the schedule of expected cash collections 31 32 Beginning balance accounts receivable 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 ending finished goods inventory 43 Total needs 44 Less beginning finished goods inventory 45 Required production in units 46 47 Construct the raw materials purchases budget 4 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 (poundo) 53 Total neede (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 Year 3 Quarter 1 ? ? ? 7 2 Year 2 Quarter 2 3 2 2 2 2 2 2 2 ? 7 2 2 2 7 Year 2 ? 2 2 UN? ? 2 2 2 2 Year 3 Quarter 1 Yew 2 2 2 7 2 ? Year 2 Quarter 2 ? ? 2 2 2 2 2 2 2 2 2 2 59 Year 2 Quarter 2 3 1 2 7 59 Construct the schedule of expected cash payments 50 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 ? ? 2 2 Year ? 2 2 2 ? 2 2 2 2 68 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 57. The marketing manager would like to use the following projections in the budget Year Quarter Dato Budgeted unit soles Selling price per unit Year 2 Quarter 2 70,000 110,000 50,000 57 70,000 90,000 90,000 B C D E 1 Chapter 8: Applying Excel 2. 3 Data 4 1 3 Year 3 Quarter 4 1 70,000 90.000 Budgeted unit sales 2 70.000 2 90,000 50.000 110.000 6 $ $ 7 Selling price per unit 8 Accounts receivable beginning balance Sales collected in the quarters are made 10 Sales collected in the quarter after sales are made 11 Desired ending finished goods inventory is 12 Finished goods inventory beginning 1a Raw materials required to produce one unit 14 Desed ending inventory of raw materials 15 - Raw materials inventory beginning 16 - Raw material costs 17 Raw materials purchases are paid 18 and 19 Accounts payable for raw materials, beginning balance 7 per unit 65,000 75% 25% 30% of the budgeted unit sales of the 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 $ $ a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year b. What is the total required production for the year under this revised budget? Total required production for the year c. What is the total cost of raw materials to be purchased for the year under this revised budget? Total cost of raw materials to be purchased for the year d. What are the total expected cash disbursements for raw materials for the year under this revised budget? Total expected cash disbursements for raw materials for the year e. After seeing this revised budget, the production manager cautioned that due to the current production constraint, a complex miling machine the plant can produce no more than 80,000 units in any one quarter Is this a potential problem? Yes ONO