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 Chapter 8: Applying Excel 2 3 Data 4 5 Budgeted unit sales 6 7 Selling price per unit A Year 2 Quarter Year 3 Quarter 1 2 45,000 65,000 3 110,000 4 1 2 70,000 90,000 90,000 $7 B C D E F G 1 2 3 4 Year 3 Quarter 1 2 45,000 65,000 110,000 70,000 90,000 90,000 8 Accounts receivable, beginning balance 9 Sales collected in the quarter sales are made $ 7 per unit 65,000 75% 10 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 Sales collected in the quarter after sales are made 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 15 Raw materials inventory, beginning 16 Raw material costs 23,000 pounds $ 0.80 per pound 17 Raw materials purchases are paid 18 and 60% in the quarter the purchases are made 40% in the quarter following purchase 19 Accounts payable for raw materials, beginning balance $ 81,500