Please show cell formulas used to get the answer. Also, please answer all questions posted. Thanks!

Download the Applying Excel form and enter formulas in all cells that contain question marks. For example, in cell B26 enter the formula = 85 Check your worksheet by changing the budgeted unlt sales in Quarter 2 of Year 2 in cell C5 to 75,000 units. The required production for the year should be 274,000 units. The cost of raw materials to be purchased for the year should be $1,106,800, whereas the total cash disbursements for the year should be $1,095,980. If you do not get this answer, find the errors in your worksheet and correct them Save your completed Applying Excel form to your computer and then upload it here by clicking "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2. D E F G H 1 Chapter 3: Applying Excel 2 1 40.000 Year 2 Quarter 2 3 60,000 100,000 Year 3 Quarter + 2 80,000 50,000 70,000 58 por un 565,000 75% 25% 30% of the budgeted unt 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 4 3 Data 4 5 Budgeted unt sales 6 7. Seling price per unit 8 Accounts receivable, beginning balance 9. Salos colected in the quarter sales are made 10. Salos colected 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. Raw material costs 17. Raw materials purchases are paid 18 and 19 Accounts payable for raw materials, beginning balance 20 21 Entor a fomul into each of the cols marked with a 7 below 22 Review Problem: Budget Schedules 23 24 Construct the sales budget 25 26 Budgeted unit sales 27 Selling priceperunt 28 Total sales 29 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 Totalcach collections 38 39 Construct the production budget 40 41 Budgeted unit ses 42 Add desired finished goods inventory 43 Total needs 44 Les beginning inventory 45 Required production 46 47 Construct the raw materials purchases budget 48 49 Required production units) 50 Raw materials required to produce one unt 7 2 2 Year 2 Quarter 2 3 7 ? ? 2. 7 2 ? 2 2 Year 3 Quarter 1 2 ? 2 2 2 2 2 Year 2 Quarter 2 3 4 Year 7 7 7 2 2 ? 2 2 ? ? ? 7 2 ? ? ? 7 7 4 Yoar Year 2 Quarter 2 3 2 7 ? 2 ? 7 7 7 ? ? 7 ? ? ? 2 2 2 2 2 2 2 ? ? 2 7 ? Year 3 Quarter + 2 2 ? 7 2 ? Year 2 Quarter 2 3 Year 3 Quarter F 4 Year 7 2 2 B C D E F G H 1 4 Year Yoar 3 Quarter 1 ? 2 2 46 47 Construct the raw materials purchases budget 48 49 Required production (units) 50 Raw materials required to produce one unit Production needs (pounds) 52 Add desired ending inventory of raw materials (pounds) 53 Total needs (pounds) 54 Less beginning inventory of raw materials (pounds) 55 Raw materials to be purchased 56 Cost of raw materials per pound 57 cost of raw materials to be purchased 58 59 Construct the schedule of expected cash payments 60 61 Accounts payable, beginning balance First quarter purchases 63 Second quarter purchases 64 Third-quarter purchases 65 Fourth quarter purchases 66 Total cash disbursements 67 2 2 ? ? ? 2 ? ? ? Yoar 2 Quarter 2 3 ? ? ? 2 ? 2 2 2 ? ? ? ? 2 ? ? ? ? ? 2 ? ? 2 ? 2 2 7 2 ? 7 ? 2 ? ? ? 2 2 1 Year 2 Quarter 2 3 4 Year ? ? ? ? ? 2 ? 2 ? ? ? 2 ? ? 2 7 ? ? Requirement 2: The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget: Data Budgeted unit sales Selling price per unit Year 2 Quarter 2 3 65,000 110,000 Year 3 Quarter 1 2 80,000 100,000 65,000 45,000 $7 E D F G A B 1 Chapter 8: Applying Excel 2 3 Data 1 4 2 65.000 3 110,000 Year 3 Quarter 4 1 65,000 80,000 2 100,000 45,000 $ $ 5 Budgeted unit sales 6 7 - Selling price per unit B Accounts receivable, beginning balance 9 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 - Raw material costs 17 Raw materials purchases are paid 18 and 19 Accounts payable for raw materials, beginning balance 7 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 $ 4 $ a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year b. What is the total required production for the year under this revised budget? Total required production for the year c. What is the total cost of raw materials to be purchased for the year under this revised budget? Total cost of raw materials to be purchased for the year d. What are the total expected cash disbursements for raw materials for the year under this revised budget? Total expected cash disbursements for raw materials for the year e After seeing this revised budget, the production manager cautioned that due to the current production constraint, a complex milling machine, the plant can produce no more than 80,000 units in any one quarter. Is this a potential problem? Yes 0 Required information The Chapter 8 Form worksheet is to be used to create your own worksheet version of the Review Problem in the text Requirement 2: The company has just hired a new marketing manager who insists that unit sales can be dramatically increased by dropping the selling price from $8 to $7. The marketing manager would like to use the following projections in the budget Year 3 Quarter Year 2 Quarter 2 70,000 105,000 75,000 90,000 Data Budgeted unit sales Solling price per unit 90.000 50,000 $7 A B D E F G 1 Chapter 8: Applying Excel 2 3 Data Year 3 Quarter 4 1 3 4 2 70,000 1 90,000 2 90,000 50,000 105,000 75,000 $ $ 5 Budgeted unit sales 6 7 Selling price per unit 8 - Accounts receivable, beginning balance 9 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 - Raw material costs 17 - Raw materials purchases are paid 18 and 19 Accounts payable for raw materials, beginning balance 7 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 $ $ a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year b. What is the total required production for the year under this revised budget? Total required production for the year c. What is the total cost of raw materials to be purchased for the year under this revised budget? Total cost of raw materials to bo purchased for the year d. What are the total expected cash disbursements for raw materials for the year under this revised budget? Total expected cash disbursements for raw materials for the year e. After seeing this revised budget, the production manager cautioned that due to the current production constraint, o complex miling machine, the plant can produce no more than 80,000 units in any one quarter Is this a potential problem? O No Yes