File Home Insert Page Layout Formulas Data Review View B1 A B C D E G H M 1 Budgeting: Applying Excel 2 3 Data 41 5 Budgeted unit sales 6 7-Selling price per unit 8 9 Accounts receivable, beginning balance Sales 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 14-Desired ending inventory of raw materials is 15-Raw materials inventory, beginning 16 17 18 Raw material costs Raw materials purchases are paid and 19Accounts payable for raw materials, beginning balance 20 Quarter 1 Quarter 2 30,000 $25 $40,000 85% 10% Year 2 Quarter 3 40,000 Quarter 4. 90,000 Year 3 Quarter 1 50,000 70,000 15% of the budgeted unit sales of the next quarter 15,000 units 2 pounds 20% of the next quarter's production needs 10,000 pounds $2.00 per pound 75% in the quarter the purchases are made 25% in the quarter following purchase $60,000 21 Enter a formula into the cells below to complete the following budgets: 22 23 24 Sales Budget 25 26 Budgeted unit sales 27 Selling price per unit 28 Total sales 29 30 Schedule of Expected Cash Collections Budget 31 32 Beginning balance accounts receivable 33 First-quarter sales 34 Second-quarter sales or m Ready Case Assignment 4 Quarter 2 70,000 Year 2 Year 3 Quarter 1 Quarter 2 Quarter 3 Quarter 4 Year 2 Total Quarter 1 Quarter 2 Year 2 Quarter 1 Quarter 21 Quarter 3 Quarter 4 Year 2 Total 3C Sunny Activate Windows 100% E