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 50,000 70,000 120,000 65,000 85,000 90.000 Budgeted unit sales Selling price per unit $7 per unit 1 Chapter 9: Applying Excel 3 Data 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 4 65,000 50,000 70,000 120,000 85,000 90,000 $7 per unit 7Selling price 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 12 Finished goods inventory, beginning 13 Raw materials required to produce one unit 14Desired ending inventory of raw materials is 15 Raw materials inventory, beginning 16.Raw material costs 17Raw materials purchases are paid 18 and 19.Accounts payable for raw materials, beginning balance 20 $65,000 75% 25% 30% ofthe 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 $81,500 a. What are the total expected cash collections for the year under this revised budget? Expected cash collections for the year$ b. What is the total required production for the year under this revised budget? Total required p ction for the year $