Construct the raw materials purchases budget \begin{tabular}{l} Required production (units) \\ Raw materials required to produce one \\ Production needs (pounds) \\ Add desired ending inventory of raw m \\ Total needs (pounds) \\ Less beginning inventory of raw materi \\ Raw materials to be purchased \\ Cost of raw materials per pound \\ \hline Cost of raw materials to be purchased \end{tabular} \begin{tabular}{|l|l|l|l|l|c|c|} \hline & \multicolumn{1}{|c}{ Year 2 Quarter } & & \multicolumn{2}{c|}{ Year 3 Quarter } \\ \hline 1 & 2 & 3 & 4 & Year & 1 \\ \hline? & ? & ? & ? & ? & ? \\ \hline? & ? & ? & ? & ? & ? \\ \hline? & ? & ? & ? & ? \\ \hline? & ? & ? & ? & ? \\ \hline? & ? & ? & ? & ? \\ \hline? & ? & ? & ? & ? \\ \hline \end{tabular} Construct the schedule of expected cash payments Year 2 Quarter Accounts payable, beginning balance First-quarter purchases Second-quarter purchases Third-quarter purchases Fourth-quarter purchases Total cash disbursements \begin{tabular}{|l|l|l|l|l|l|} \hline 1 & 2 & 3 & 4 & Year \\ \hline & ? & & & ? \\ \hline & ? & & & ? \\ \hline & ? & ? & ? & ? \\ \hline \hline \end{tabular} Chapter 8: Applying Excel Data 1 Budgeted unit sales 40,000 \begin{tabular}{ccc|c|c|} \hline Year 2 Quarter & & \multicolumn{2}{c}{ Year 3 Quarter } \\ \hline 2 & 3 & 4 & 1 & 2 \\ \hline 60,000 & 100,000 & 50,000 & 70,000 & 80,000 \\ \hline \end{tabular} - Selling price per unit $8 per unit - Accounts receivable, beginning balance $65,000 - Sales collected in the quarter sales are made - Sales collected in the quarter after sales are made 25% - Desired ending finished goods inventory is 30% of the budgeted unit sales of the next quarter - 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 and - Accounts payable for raw materials, beginning balance Enter a formula into each of the cells marked with a ? below Review Problem: Budget Schedules Construct the sales budget Budgeted unit sales Selling price per unit Total sales \begin{tabular}{|rrrrrrr|} \hline & \multicolumn{2}{l}{ Year 2 Quarter } & \multicolumn{2}{c|}{ Year 3 Quarter } \\ \hline 1 & \multicolumn{2}{|c|}{2} & 3 & 4 & 1 & \multicolumn{1}{l|}{2} \\ \hline 40,000 & 60,000 & 100,000 & 50,000 & 70,000 & 80,000 \\ \hline$8 & $8 & $8 & $8 & $8 & $8 \\ \hline$102,400,000,000 & ? & ? & ? & ? & ? \\ \hline \hline \end{tabular} Construct the schedule of expected cash collections Accounts receivable, beginning balance First-quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections Total cash colections Construct the production budget Budgeted unit sales Add desired finished goods inventory Total needs Less beginning inventory Required production