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 QuarterYear 3 Quart Year 3 Ouarter Data Budgeted unit sales Selling price per unit 45,000 65,000 110,000 70,000 90,000 95,000 $7 1 Chapter 8: Applying Excel 3 Data Year 3 Quarter 4 95,000 5 Budgeted unit sales 6 7Selling price per unit 8 Accounts receivable, beginning balance 9 Sales collected in the quarter sales are made 10 Sales collected in the quarter after sales are made 45,000 65,000 110,000 70,000 90,000 per unit $ 65,000 75% 25% 30% of the budgeted unit sales of the next quarter Desired ending finished goods inventory is 12 Finished goods inventory, beginning 13 14 15 16 17 18 19 12,000 units 5 pounds Raw materials required to produce one unit Desired ending inventory of raw materials is Raw materials inventory, beginning Raw material costs Raw materials purchases are paid 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 and Accounts payable for raw materials, beginning balance S 81,500