SUBMIT ANSWERS USING CELL FORMULAS! Example: =C34-E21

1 Chapter 8: Applvina Excel 3 Data 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 40,000 60,000 100,000 50,000 70,000 80,000 7 Selling price per unit $8 per unit $65,000 Accounts receivable, beqinning balance 9 Sales collected in the quarter sales are made 75% 25% 30% of the budgeted unit sales of the next quarter 10 Sales collected in the quarter after sales are made 11Desired ending finished goods inventory is 12.Finished goods inventory, beginning 13Raw materials required to produce one unit 14 Desired ending inventory of raw materials is 15 Raw materials inventory, beginning 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds 16Raw material costs 17Raw materials purchases are paid $0.80 per pound 60% in the quarter the purchases are made 40% in the quarter following purchase 18 and 19 .Accounts payable for raw materials, beginning balance 20 $81,500 21 Enter a formula into each of the cells marked with a? below 22 Review Problem: Budget Schedules 23 Year 2 Quarter Year 3 Quarter 24 Construct the sales budget 25 26 Budgeted unit sales 27 Selling price per unit 28 Total sales 29 30 Construct the schedule of expected cash collections 31 32 Accounts receivable, beginning balance 33 First-quarter sales 34 Second-quarter sales 35 Third-quarter sales 36 Fourth-quarter sales 37 Total cash collections 38 Year 2 Quarter Year 7