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 Budgeted unit sales Selling price per unit 45,000 65,000 110,000 75,000 90,000 95,000 1 Chapter 8: Applying Excel 3 Data S Budgeted unit sales Year 3 Quarter 45,000 65,000 110,000 75,000 90,000 95,000 7 Selling 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 11 Desired ending finished goods inventory is 12 Finished goods inventory, beginning 7 per unit 65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units Is required to produce one unit 5 pounds 14 .Desired ending inventory of raw materials is 15 Raw materials inventory, beginning 16 . Raw material costs 17 18 and 19 10% of the next quarter's production needs 23,000 pounds 0.80 per pound 609 in the quarter the purchases are made 40% in the quarter following purchase Raw materials purchases are paid Accounts payable for raw materials, beginning balance 81,500 a. What are the total expected cash collections for the year under this revised budget? cash collections for the b. What is the total required production for the year under this revised budget? Total required production for the year C. What is the total cost of raw materials to be purchased for the year under this revised budget? l cost of raw materials to be purchased for the