Required information Chapter 8: Applying Excel (LO8-2, LO8-3, LO8-4] The Chapter 8 Form worksheet is to be used to create your own worksheet version of the Review Problem in the text. Chapter 8: Applying Excel: Excel Worksheet (Part 1 of 2) 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 "Browse." Next, click "Save." You will use this worksheet to answer the questions in Part 2. upload a response file (15MB max) download reference file Choose File no file selected Excel File Edit View Insert Format Tools Data Window 61% Sun 6:35 PM Q Help Chapter_8_Applying_Excel_Student Form.xls - Compatibility Mode AutoSave OFF EU a Home Insert Draw Page Layout Formulas Data Review View Tell me A Share Comments X Arial v 10 v AA 2 Wrap Text General 3-2- 5 V Pacic BI ar Ar Insert Merge & Center Delcic 3 Y Sort & Format Conditional Format Cell Formatting as Table Styles Find & Select Ideas Filter A1 XVfx Chapter 8: Applying Excel A B C D E F G H I 1 Year 2 Quarter 2 3 60,000 100,000 4 50.000 Year 3 Quarter 1 2 70,000 80,000 40,000 Chapter 8: Applying Excel 2 3 Data 4 5 Budgeted unit sales 6 7 .Selling price per unit 8 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 12 . Finished goods inventory, beginning 13 . Raw 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 75 Chapter 8 Form $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 + + 178% O 19 W P O tv A A OS Excel File Edit View Insert Format Tools Data Window 61% Sun 6:35 PM Q Help Chapter_8_Applying_Excel_Student Form.xls - Compatibility Mode AutoSave OFF EU a Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Arial v 10 v AA Wran Text General 3-2- 4 V Pacic BI dy v Merge & Center B Insert Delete Format Y Conditional Format Cell Formatting as Table Styles Sort & Filter Find & Select Ideas A1 fx Chapter 8: Applying Excel A B C D E F G H 3 4 1 Year 2 Quarter 2 ? ? ? ? ? ? ? ? ? ? Year 3 Quarter 2 ? ? ? ? ? ? ? ? Year 2 Quarter 2 3 1 4 Year ? ? ? ? ? ? 24 Construct the sales budget 25 26 Budgeted unit sales 27 Selling price per unit 28 Total sales 29 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 36 Fourth-quarter sales 37 Total cash collections 38 39 Construct the production budget 40 41 Budgeted unit sales 42 Add desired ending finished goods inventory 43 Total needs 44 Less beginning finished goods inventory 45 Required production in units 46 47 Construct the raw materials purchases budget Chapter 8 Form ? ? ? ? ? ? ? ? ? ? ? ? 1 3 4 Year 1 ? Year 2 Quarter 2 ? ? ? ? ? ? ? ? ? ? ? ? ? ? Year 3 Quarter 2 ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Year 2 Quarter Year 3 Quarter + 175% 19 w tv A 0 Excel File Edit View Insert Format Tools Data Window 61% Sun 6:35 PM Q Help Chapter_8_Applying_Excel_Student Form.xls - Compatibility Mode AutoSave OFF BESU a Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments X Arial v 10 * ' v 2 Wrap Text General - - - - - O % V Pacic BI dy v Merge & Center Insert Delete Format Sort & Y Conditional Format Cell Formatting as Table Styles Find & Select Ideas Filter A1 XVfx Chapter 8: Applying Excel B C D E F G H I Year 3 Quarter F 1 3 4 Year ? ? ? ? ? ? ? ? ? ? ? Year 2 Quarter 2 ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? 47 Construct the raw materials purchases budget 48 49 Required production (units) 50 Raw materials required to produce one unit (pounds) 51 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 (pounds) 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 Beginning balance accounts payable 62 First-quarter purchases 63 Second-quarter purchases 64 Third-quarter purchases 65 Fourth quarter purchases 66 Total cash disbursements 67 68 69 70 F Year 2 Quarter 2 3 4 Year ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Chapter 8 Form + 1 TO O 19 w P O tv A