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 3 Quarter Year 2 Quarter 1 45, 2 Data 2 3 70,000 85,000 it sales Seliing price per unit eted 120,000 65,000 90,000 A B C D G Chapter Applying Excel 1 Year 3 Quarter Data 4 2 3 4 2 1 1 Budgeted unit sales 45,000 70,000 120,000 65,000 85,000 90,000 per unit Selling price per unit 7 Accounts receivable, beginning balance 65,000 Sales collected in the quarter sales are made 75% 9 25% Sales collected in the quarter after sales are made 10 Desired ending finished goods inventory is 30% of the budgeted unit sales of the next quarter 11 units Finished goods inventory, beginning 12,000 12 Raw materials required to produce one unit pounds 13 of the next quarter's production needs Desired ending inventory of raw materials is 10% 14 Raw materials inventory, beginning pounds 23,000 15 Raw material costs S per pound 0.80 16 in the quarter the purchases are made Raw materials purchases are paid 60% 17 in the quarter following purchase and 40% 18 - Accounts payable for raw materials, beginning 19 balance 81,500 a. What are the total expected cash collections for the year under this revised budget? XAnswer is complete but not entirely correct. Expected cash collections for the $1,972,500 year b. What is the total required production for the year under this revised budget? XAnswer is complete but not entirely correct. Total required production for the 305,500 X year c. What is the total cost of raw materials to be purchased for the year under this revised budget? XAnswer is complete but not entirely correct. Total cost of raw materials to be purchased for the year $ 1,238,800 X d. What are the total expected cash disbursements for raw materials for the year under this revised budget? X An is complet but not enti rely correct. Total expected cash disbursements for raw materials for the year $ 1,195,980 X