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: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 production for the year

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 yearThe 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:

$\backslash$table$[[$Data$,$Year $2$ Quarter,Year $3$ Quarter$],[1,2,3,4,1,2],[$Budgeted unit sales,$45,000,70,000,115,000,70,000,85,000,90,000],[$Selling price per unit,$$7,,,,,]]$

$\backslash$table$[[,$A$,,$B$,$C$,$D$,E,F,$G$],[1,$Chapter $8$: Applying Excel,,,,,,,$],[2],[3,$Data,,,,,,Year $3$ Quarter$],[4,,,1,2,3,4,1,2],[5,$Budgeted unit sales,,$45,000,70,000,115,000,70,000,85,000,90,000],[6],[\backslash$table$[[7],[8]],-$ Selling price per unit,$$,7,$per unit,,,,$],[-$ Accounts receivable, beginning balance,$$,65,000,,,,,],[-$ Sales collected in the quarter sales are made,,$75\%,,,,,],[9,-$ Sales collected in the quarter after sales are made,,$25\%,,,,,],[10,-$ Desired ending finished goods inventory is$,,30\%,$of the budgeted unit sales of the next quarter$],[11,-$ Finished goods inventory, beginning,,$12,000,$units,,,,$],[12,-$ Raw materials required to produce one unit,,$5,$pounds,,,,$],[13,-$ Desired ending inventory of raw materials is$,,10\%,$of the next quarter's production needs$],[14,-$ Raw materials inventory, beginning,,$23,000,$pounds,,,,$],[15,-$ Raw material costs,$$,0\mathrm{.}80,$per pound,,,,$],[16,-$ Raw materials purchases are paid,,$60\%,$in the quarter the purchases are made$],[17,$and,,$40\%,$in the quarter following purchase$],[18,-$ Accounts payable for raw materials, beginning balance,$$,81,500,,,,,]]$