Required- Please give the right answers and show you use formulas in your spreadsheet. The total expected cash collections for the year should be now $2085000. If you don't get the answer, find the errors in your worksheet and correct them. Thank you!

ch & garrison_15e applying.excel student form - Read-Only Excel Cut Copy aste er | $ , % , 1s8.0s I Conditional For Format Painter Formatting Table Clipboard Font Alignment Number Styles 31 Chapt+A1:H64er 8: Applying Excel Data Budgeted unit sales Year 2 Quarter Year 3 Quarter 70,000 80,000 75,000 100,000 50,000 40,000 S8 per unit Selling price per unit $65,000 Accounts receivable, beginning balance 75% 25% 30% of the budgeted unit sales of the next quarter Sales collected in the quarter sales are made . Sales collected in the quarter after sales are made 1 Desired ending finished goods inventory is 12,000 units Finished goods inventory, beginning 3 Raw materials required to produce one unit 4 Desired ending inventory of raw materials is 5.Raw materials inventory, beginning 6 Raw material costs 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 17 . Raw materials purchases are paid 19.Accounts payable for raw materials, beginning balance $81,500 18 and 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 25 26 Budgeted unit sales Year 3 Quarter Year 2 Quarter Chapter 8 Form Ready Type here to search 72 345 6789 ch-8.garnson_15e applying excel_student_form - Read-Only Excel DataReview View Help9 Tell me what you want to do File Home Cut Copy Draw Insert Page Layout Formulas Arial General Paste Merge &Center-S . % , | B 1 u . aA-- Conditional Form atas t Format Painter Formatting- Table . Clipboard Font Alignment N31 1 Enter a formula into each of the cells marked with a ? below 22 Review Problem: Budget Schedules 23 24 Construct the sales budget Year 2 Quarter Year 3 Quarter 25 26 Budgeted unit sales 27 Selling price per unt 28 Total sales 29 30 Construct the schedule of expected cash collections 31 Year 2 Quarter Year Accounts receivable, beginning balance 33 First-quarter sales 34 Second-quarter sales 35 Third-quarter sales 36 Fourth-quarter sales 37 Total cash collections Year 2 Quarter Year 3 Quarter 39 Construct the production budget Year 41 Budgeted unit sales 42 Add desired finished goods inventory 43 Total needs 44 Less beginning inventory 45 Required production Chapter 8 Form O Type here to search 7 2 345 6789 rm Read-Onl Hle Home Draw Page Layout Formulas Data Review ViewHelpTell me what you want Cut 10 AAWrap Text Arial General Copy Paste A format Painter Clipboard Font Alignment Number N31 46 47 Construct the raw materials purchases budget 48 49 Required production (units) 50 Raw materials required to produce one unit 51 Production needs (pounds) Year 2 Quarter Year 3 Quarter Year 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 Year 2 Quarter 59 Construct the schedule of expected cash payments 3 4 Year 61 Accounts payable, beginning balance 62 First-quarter purchases Second-quarter purchases 64 Third-quarter purchases 65 Fourth-quarter purchases 66 Total cash disbursement:s 67 68 69 71 Chapter 8 Form Type here to search esc 12 345 6 78