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 Year 2 Quarter Year 3 Quarter 4 Budgeted unit sales Se 50,000 70,000 105,000 70,000 80,000 100,000 ling price per unit $7 per unit Chapter 7: Applying Excel 3 Data 4 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 50,000 70,000 105,000 70,000 80,000 100,000 7Selling price per unit $8 per unit $65,000 8Accounts receivable, beginning balance 9 Sales collected in the quarter sales are made 10 Sales collected in the quarter after sales are made 11Desired ending finished goods inventory is 12Finished goods inventory, beginning 13.Raw materials required to produce one unit 14Desired ending inventory of raw materials is 15.Raw materials inventory, beginning 16Raw material costs 17.Raw materials purchases are paid 18 and 19. Accounts payable for raw materials, beginning balance 7590 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 a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year