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3 C D E F 6 1 Chapter 8: Applying Excel 2 3 Data Yoar 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 6 80,000 7 Soling price por un $8 per unit 8 - Accounts receivable beginning balance $65.000 9 - Salos collected in the quarter sales are mado 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 neat quarter's production needs 15 - Roww materials inventory beginning 23,000 pounds 16 - Row matonal costs $0 80 por pound 17 - Ruw materials purchases are paid 60% in the quarter the purchases are made 18 and 40% in the quarter following purchase 19 Accounts payable for raw materials, beginning balance $81 500 20 21 Entor a forma into each of the cells marked with a below 22 Review Problem: Budget Schedules 23 24 Construct the sales budget Year 2 Quarter Year 3 Our 25 1 2 3 4 1 2 26 Budgetod unit salos ? ? 2 2 ? 2 27 Seling price per unit ? 2 ? 7 2 7 28 Total sales 2 2 2 2 ? 2 29 E F G H D Year 2 Quarter 2 3 1 F + Year 2 2 2 2 ? 2 ? 2 2 2 2 2 7 ? ? ? 2 F 4 Year Year 2 Quarter 2 3 ? ? 2 30 Construct the schedule of expected cash collections 31 32 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 10 41 Budgetod unit solos 42 Add desired finished goods inventory 40 Total noods 44 Loss beginning inventory 45 Required production 46 47 Construct the raw materials purchases budget 48 49 Required production (units) 50 Ruw materials required to produce one unit 51 Production noods (pounds) 52 Add dosired ending inventory of raw materials (pounds) 53 Total needs (pounds) 54 Loss beginning inventory of raw materials (pounds) 55 Raw material to be purchased 56 Cost of raw materials per pound 57 Cost of raw materials to be purchased 2 > ? 7 ? ? 2 2 2 ? 2 2 2 2 ? ? 7 2 ? Your 3 wrter 1 2 2 2 7 ? 2 2 ? F + + You 2 ? ? Year 2 Quer 2 3 ? ? ? ? ? ? 3 2 2 ? 2 7 2 2 ? 2 2 2 2 2 Year 3 Quarter 1 ? 2 2 2 ? ? 7 2 7 ? ? 2 ? 2 2 ? 2 2 ? ? 2 2 Year 2 Quarter 2 3 1 Year 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 ? ? ? 2 2 ? ? 2 2 2 ? ? ? ? 2
