Paste BIU v A E Merge & Center $ % ) 00 81 fx Chapter 8: Applying Excel A D G H Chapter 8: Applying Excel Data 4 1 40,000 Year 2 Quarter 2 3 60,000 100,000 Year 3 Quarter 1 2 70,000 80,000 Budgeted unt sales 50,000 $8 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 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 1. 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 B and Accounts payable for raw materials, beginning balance 0 1 Enter a formule into each of the cells marked with a 7 below 2 Review Problem: Budget Schedules 3 4 Construct the sales budget 5 6 Budgeted unit sales 7 Selling price per unit 8 Total sales 9 0 Construct the schedule of expected cash collections -1 2 Accounts receivable, beginning balance 3 First quarter sales 14 Second quarter sales 15 Third-quarter sales 6 Fourth-quarter sales 7 Total cash collections 38 erinne truant the nation harraf 1 F 4 F ? ? ? Year 2 Quarter 2 3 ? ? ? ? ? ? ? 2 ? Year 3 Quarter 1 2 2 2 ? ? ? 2 Yoar 2 Quarter 2 3 1 4 Year ? ? ? ? ? ? ? ? ? ? 2 ? ? ? ? ? ? YAAR 2 Owarfar Year 3 Quarter C D E G H ? Second-quarter sales Third-quarter sales Fourth quarter sales Total cash collections 2 7 ? 2 7 ? ? 7 ? ? 7 2 Construct the production budget 1 4 Year Budgeted unit sales Add desired finished goods inventory Total needs Less beginning inventory Required production ? Year 2 Quarter 2 3 ? ? ? ? ? ? ? ? ? ? ? 7 ? ? ? ? ? ? ? 2 ? ? 7 7 ? Year 3 Quarter 1 2 ? ? 7 ? 2 Construct the raw materials purchases budget 1 F 4 Year Year 3 Quarter 1 ? ? Required production (units) Raw materials required to produce one unit Production needs (pounds) Add desired ending Inventory of raw materials (pounds) 3 Total needs (pounds) Less beginning Inventory of raw materials (pounds) 5 Raw materials to be purchased Cost of raw materials per pound 7 Cost of raw materials to be purchased ? 2 ? ? ? ? 2 2 ? Year 2 Quarter 2 3 ? 7 ? ? ? ? ? 2 2 ? ? 7 ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 7. ? 7 ? 7 7 ? -9 Construct the schedule of expected cash payments 1 F Year 2 Quarter 2 3 4 Year ? ? ? ? ? ? ? ? 7 7 7 7 ? 7 ? ? ? 7 51 Accounts payable, beginning balance 52 First quarter purchases 53 Second-quarter purchases 54 Third-quarter purchases 55 Fourth-quarter purchases 166 Total cash disbursements 57 68 69 70 71 72 73 74 75 76 77 Chanter R Farm