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: Year 2 Quarter Year' 3 Quarter Data 1 2 3 4 1 2 Budgeted unit: sales 56,666 76,666 115,666 75,666 86,666 166, 666 Selling price per' unit 3 7 A B C D E F G 1 Chapter 8: Applying Excel 2 3 Data Year 3 Quarter 4 1 2 3 4 1 2 5 Budgeted unit sales 50,000 70,000 115,000 75,000 80,000 100,000 6 7 - Selling price per unit $ 7 per unit 8 -Accounts receivable, beginning balance $ 65,000 9 - Sales collected in the quarter sales are made 75% 10 - Sales collected in the quarter after sales are made 25% 1 1 - Desired ending nished goods inventory is 30% of the budgeted unit sales of the next quarter 12 - Finished goods inventory, beginning 12,000 units 13 - Raw materials required to produce one unit 5 pounds 14 - Desired ending inventory of raw materials is 10% of the next quarter's production needs 15 - Raw materials inventory, beginning 23,000 pounds 16 - Raw material costs $ 0.80 per pound 17 - Raw materials purchases are paid 60% in the quarter the purchases are made 18 and 40% in the quarterfollowing purchase 19 - Accounts payable for raw materials, beginning balance $ 81,500 a. What are the total expected cash collections for the year under this revised budget? b. What is the total required production for the year under this revised budget? c. What is the total cost of raw materials to be purchased for the year under this revised budget? d. What are the total expected cash disbursements for raw materials for the year under this revised budget