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 Budgeted unit sales Selling price per unit 45,000 70,000 120,000 75,000 90,000 90,000 $7 per unit 1 Chapter 7: Applying Excel 3 Data 4 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 2 90,000 45,000 70,000 120,000 75,000 90,000 Selling price per unit $8 per unit 8Accounts receivable, beginning balance 9Sales collected in the quarter sales are made 10 .Sales collected in the quarter after sales are made 11 Desired 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 19Accounts payable for raw materials, beginning balance 20 S65,000 75% 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