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 50,000 65,000 110,000 75,000 80,000 100,000 $7 Chapter 8: Applying Excel 1 2 3 Data Year 3 Quarter 2 2 75,000 Budgeted unit sales 6 5 50,000 65,000 110,000 80,000 100,000 Selling price per unit 7 per unit 8Accounts receivable, beginning balance 9Sales 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 13Raw materials required to produce one unit 14Desired ending inventory of raw materials is 15Raw materials inventory, beginning 16Raw material costs 17Raw materials purchases are paid 18and 19 Accounts payable for raw materials, beginning balance $ 65,000 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 b. What is the total required production for the year under this revised budget? Total required production for the year 378,000 c. What is the total cost of raw materials to be purchased for the year under this revised budget? Total cost of raw materials to be purchased for the year 1,308,500 d. What are the total expected cash disbursements for raw materials for the year under this revised budget? Total expected cash disbursements for raw materials for the year $ 1,308,500