Need help with setting up formulas in excel
Chapter 8: Applying Excel Data Year 3 Quarter Yoar 2 Quarter 60,000 100,000 Budgeted unit sales 40,000 50,000 70,000 80,000 - 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 - Desired ending finished goods inventory is - 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 58 per unit $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 Accounts payable for raw materials, beginning balance Enter a formule into each of the cells marked with a ? below Review Problem: Budget Schedules Construct the sales budget Year 2 Quarter Year 3 Quarter Budgeted unit sales Selling price per unit Total sales 70,000 40,000 $320,000 60,000 $480,000 100,000 $800.000 50,000 $400,000 se 80,000 $8 $640,000 $560,000 Construct the schedule of expected cash collections Year 2 Quarter Pracons que Accounts receivable, beginning balance First quarter sales Second quarter sales Third quarter sales Fourth quarter sales Total cash collections | Construct the production budget Pear 3 Quarter . Budgeted unit sales Add desired finished goods inventory Total needs Less beginning inventory Required production SL TIL Construct the raw materials purchases budget Year 2 Quarter Required production (unit) Raw materials required to produce one unit Production needs (pounds) Add desired ending Inventory of raw materiais (pounds) Total needs (pounds) Less beginning inventory of raw materials (pounds) Raw materials to be purchased Cost of raw materials per pound Cost of raw materials to be purchased 1 ITIT Construct the schedule of expeed cash payment Yoar 2 Quarter Construct the sales budget Yoar 3 Quarter Budgeted unit sales Selling price per unit Total sales Year 2 Quarter 72 40,000 60,000 100.000 150.000 1 S8 S8 S8 S8 $320,000 $480,000 $800,0001 15400,000 70,000 S8 $560,000 80,000 S8 $640,000 Construct the schedule of expected cash collections Year 2 Quarter Accounts receivable, beginning balance First quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections Construct the production budget Year 3 Quarter Budgeted unit sales Add desired finished goods inventory Total needs Less beginning inventory Required production Construct the raw materials purchases budget Year 3 Quarter Required production (units) Raw materials required to produce one unit Production needs (pounds) Add desired ending Inventory of raw materials (pounds) Total needs (pounds) Less beginning inventory of raw materials (pounds) Raw materials to be purchased Cost of raw materials per pound Cost of raw materials to be purchased ON 11 Construct the schedule of expected cash payments Accounts payable, beginning balance First quarter purchases Second-quarter purchases Third-quarter purchases Fourth quarter purchases Total cash disbursements
