please use formulas in the cells
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 unit 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 "Browje." Next, click "Save." You will use this worksheet to answer the questions in Part 2. Data 1 40,000 Year 2 Quarter 2 3 60,000 100,000 Year 3 Quarter 1 2 70,000 80,000 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 17 19 Budgeted unit sales 5. Selling price per unit - Accounts receivable, beginning balance 8 Sales collected in the quarter sales are made 9 Sales collected in the quarter after sales are made 30 Desired ending finished goods inventory is 11 Finished goods inventory, beginning 12 - Raw materials required to produce one unit 13 -Desired ending inventory of raw materials is 34 - Raw materials inventory beginning 35 - Raw material costs 16 - Raw materials purchases are paid and 10 Accounts payable for raw materiais, beginning balance 20 Enter a formula into each of the coll's marked with a ? below 21 Review Problem: Budget Schedules 22 22 Construct the sales budget 24 25 Budgeted unit sales 26 Selling price per unit 27 Total sales 28 - Construct the schedule of expected cash collections 30 Accounts receivable beginning balance 12 First quarter sales 33 Second-quarter sales 34 Third quarter sales 15 Fourth-quarter sales 36 Total cash collections Chant Year 2 Quarter 1 2 3 40.000 60,000 100,000 50,000 38 58 $8 $8 $320,000 $480,000 $800,000 $400,000 Year 3 Quarter 1 2 70,000 80,000 $8 $8 $560,000 $640,000 Year 2 Quarter 2 3 Year $ 65,000 ? ? 2 2 2 2 ? 2 $320,000 $480,000 $800.000 $400,000 $560,000 5640,000 Yoar 2 Quarter 2 3 4 $ 65,000 ? 7 7 ? Year ? 7 2 ? ? ? ? ? ? 2 7 ? Year 3 Quarter 1 4 Year 28 29 Construct the schedule of expected cash collections 30 31 Accounts receivable, beginning balance 32 First quarter sales 33 Second quarter sales 34 Third-quarter sales 35 Fourth quarter sales 36 Total cash collections 37 38 Construct the production budget 39 40 Budgeted unlt sales 41 Add desired finished goods inventory 42 Total needs 41 Less beginning inventory 4 Required production 45 46 Construct the raw materials purchases budget 42 4 Required production (units) 49 Raw materials required to produce one unit 50 Production needs (pounds) 51 Add desired ending inventory of raw materials (pounds) 52 Total needs (pounds) 53 Less beginning inventory of raw materials (pounds) 54 Raw materials to be purchased 55 cost of raw materials per pound 56 Cost of raw materials to be purchased 57 sa Construct the schedule of expected cash payments 2 2 2 ? Year 2 Quarter 2 ? ? > ? 3 ? ? 2 2 2 2 2 2 ? 7 2 2 ? 2 2 ? 7 4 ? 2 2 2 > 2 ? 2 2 2 2 2 Year 2 Quarter 2 3 2 2 2 2 2 9 2 ? 7 ? 7 2 > 2 2 Year 3 Quarter Year 7 ? 2 2 2 2 2 7 2 2 2 ? ? 7 2 ? 2 2 Year 2 Quarter 2 60 Accounts payable, beginning balance 61 First quarter purchases 62 Second quarter purchases Year C D E G ? 2 ? ? ? ? ? 2 2 ? ? ? ? ? 2 ? 2 2 ? ? ? 2 47 1 4 2 ? 2 ? 2 42 Total needs 43 Less beginning inventory 44 Required production 45 26 Construct the raw materials purchases budget 48 Required production (units) 49 Raw materials required to produce one unit so Production needs (pounds) 51 Add desired ending inventory of raw materials (pounds) 52 Total needs (pounds) 53 Lens beginning inventory of raw materials (pounds) 54 Raw materials to be purchased ss Cost of raw materials per pound 56 Cost of raw materials to be purchased 57 se construct the schedule of expected cash payments 59 60 Accounts payable, beginning balance 61 First quarter purchases 62 Second-quarter purchases 63 Third-quarter purchases 64 Fourth-quarter purchases GS Total cash disbursements 66 Year 2 Quarter 2 3 ? 2 2 ? ? ? ? ? ? ? ? 2 ? ? ? 2 ? 2 --- Year 3 Quarter Year 2 2 ? 2 7 2 ? ? 2 ? 2 ? ? ? 2 2 2 ? ? 2 ? Year 2 Quarter 2 3 1 4 ? 2 2 ? 2 Year ? 2 2 2 ? ? 2 2 2 ? ? 67 GE 69 70 71 72 74 73 Chapter Form +
