! 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: Data Budgeted unit sales Selling price per unit 1 45,000 $ 7 Year 2 Quarter 2 3 70,000 120,000 4 65,000 Year 3 Quarter 1 2 90,000 95,000 A . B C D E F G 1 1 Chapter 8: Applying Excel 2 3 Data Year 3 Quarter 1 1 1 1 2 3 4 4 2 2 5 Budgeted unit sales 45,000 70,000 120,000 65,000 90,000 95,000 |$ per unit 7 7 65,000 $ 75% 25% 30% 12,000 5 6 Selling price per unit 7 Accounts receivable, beginning balance 8 Sales collected in the quarter sales are made 9 Sales collected in the quarter after sales are made 10 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 14 Raw materials inventory, beginning 15 . Raw material costs 16 . Raw materials purchases are paid 17 and 18 Accounts payable for raw materials, beginning balance 19 10% of the budgeted unit sales of the next quarter units pounds of the next quarter's production needs pounds per pound in the quarter the purchases are made in the quarter following purchase . 23,000 0.80 $ 60% 40% $ 81,500 a. What are the total expected cash collections for the year under this revised budget? Answer is complete but not entirely correct. Expected cash collections for the year $ 2,016,250 % 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