Mc Graw Hil connect The Excel worksheet form that appears below is to be used to recreate the Review Problem related to Mynor Corporation. The workbook, and instructions on how to complete the file, can be found in Connect. A Chapter 8: Applying Excel 3 Data Budgeted unit sales 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 11 Desired ending finished goods inventory is Finished goods inventory, beginning Raw materials required to produce one unit 14 Desired ending inventory of raw materials is 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 20 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 sales 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 C D E F G 80,000 Year 2 Quarter Year 3 Quarter 1 2 2 3 1 40,000 60,000 100,000 50,000 70,000 $8 $65,000 75% 25% 30% of the budgeted unit 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 Year 2 Quarter Year 3 Quarter 2 3 1 2 ? ? ? ? ? ? ? ? ? ? 2 ? ? ? 2 Year 2 Quarter Year 1 2 3 ? ? ? ? ? ? ? ? ? ? ? ? ? ? 2 ? ? API LO8- You should proceed to the requirements below only after completing your worksheet. Required: 1. Check