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 projoctions in the budget: 3 Quarter Budgeted unit sales Selling price per unit 45,000 70,000 115,000 60,000 85,000 95,000 $7 per unit 1 Chapter 7: Applying Excel 3 Data 5 Budgeted unit sales Year 2 Quarter Year 3 Quarter 45,00070,000 115,00060,000 85,00095,000 Selling price per unit 8 per unit Accounts receivable, beginning balance $65,000 Sales collected in the quarter sales are made 0Sales collected in the quarter after sales are made 75% 25% 30% ofthe budgeted unit sales of the next quarter Desired ending finlished goods inventory is 2 Finished goods inventory, beginning 12,000 units 5 pounds 3 Raw materials required to produce one unit 4Desired ending inventory of raw materials is 5.Raw materials inventory, beginning 6Raw material costs 7 .Raw materials purchases are paid 18 and 9 Accounts peryable for raw materials, beginning balance81 20 10% of the next quarter's production needs 23,000 pounds $0.80 per pound 60% i quarter the purchases are made 40% ine quarter following purchase a. What are the total expected cash collections for the year under this revised budget? lections for the