Chapter 8: Applying Excel Data A Budgeted unit sales • Selling price per unit • Accounts receivable, beginning balance • Sales collected in the quarter sales are made • Sales collected in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning • Raw materials required to produce one unit • Desired ending inventory of raw materials is Raw materials inventory, beginning . • Raw material costs Raw materials purchases are paid and • Accounts payable for raw materials, beginning balance Enter a formula into each of the cells marked with a ? below Review Problem: Budget Schedules Construct the sales budget Budgeted unit sales Selling price per unit Total sales Construct the schedule of expected cash collections Accounts receivable, beginning balance First-quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections Construct the production budget Budgeted unit sales Add desired finished goods inventory Total needs Less beginning inventory Required production B 1 45,000 $7 per unit 1 1 45,000 1 $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds ? ? C 40% in the quarter following purchase $81,500 ? ? ? Year 2 Quarter 2 65,000 $0.80 per pound 60% in the quarter the purchases are made ? ? ? ▼ ▼ D 3 115,000 Year 2 Quarter 2 65,000 ? ? ? ? ? Year 2 Quarter 2 ? ? ? ? ? 3 115,000 ? ? Year 2 Quarter 2 3 3 ? ? ? E 4 65,000 ? ? ? ? ? ▼ 4 65,000 ? ? 7 4 4 ? ? ? ? ? ? ? ? F Year 3 Quarter 1 85,000 Year Year 3 Quarter 1 85,000 ? ? Year ? ? ? ? ? ? ? ? G ? ? ? ▼ 2 95,000 2 95,000 ? ? H Year 3 Quarter 1 2 ? ? ? ? ? ? I J K L M
Chapter 8: Applying Excel Data A Budgeted unit sales • Selling price per unit • Accounts receivable, beginning balance • Sales collected in the quarter sales are made • Sales collected in the quarter after sales are made Desired ending finished goods inventory is Finished goods inventory, beginning • Raw materials required to produce one unit • Desired ending inventory of raw materials is Raw materials inventory, beginning . • Raw material costs Raw materials purchases are paid and • Accounts payable for raw materials, beginning balance Enter a formula into each of the cells marked with a ? below Review Problem: Budget Schedules Construct the sales budget Budgeted unit sales Selling price per unit Total sales Construct the schedule of expected cash collections Accounts receivable, beginning balance First-quarter sales Second-quarter sales Third-quarter sales Fourth-quarter sales Total cash collections Construct the production budget Budgeted unit sales Add desired finished goods inventory Total needs Less beginning inventory Required production B 1 45,000 $7 per unit 1 1 45,000 1 $65,000 75% 25% 30% of the budgeted unit sales of the next quarter 12,000 units 5 pounds 10% of the next quarter's production needs 23,000 pounds ? ? C 40% in the quarter following purchase $81,500 ? ? ? Year 2 Quarter 2 65,000 $0.80 per pound 60% in the quarter the purchases are made ? ? ? ▼ ▼ D 3 115,000 Year 2 Quarter 2 65,000 ? ? ? ? ? Year 2 Quarter 2 ? ? ? ? ? 3 115,000 ? ? Year 2 Quarter 2 3 3 ? ? ? E 4 65,000 ? ? ? ? ? ▼ 4 65,000 ? ? 7 4 4 ? ? ? ? ? ? ? ? F Year 3 Quarter 1 85,000 Year Year 3 Quarter 1 85,000 ? ? Year ? ? ? ? ? ? ? ? G ? ? ? ▼ 2 95,000 2 95,000 ? ? H Year 3 Quarter 1 2 ? ? ? ? ? ? I J K L M
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
100%
complete the excel sheet only showing formula and calculations
Transcribed Image Text:B27
123456700
X ✓ fx ?
Chapter 8: Applying Excel
Data
A
Budgeted unit sales
Selling price per unit
8 • Accounts receivable, beginning balance
9 • Sales collected in the quarter sales are made
10 • Sales collected in the quarter after sales are made
11 Desired ending finished goods inventory is
12 • Finished goods inventory, beginning
13 • Raw materials required to produce one unit
14. Desired ending inventory of raw materials is
15 Raw materials inventory, beginning
16 • Raw material costs
17 • Raw materials purchases are paid
18
and
19 • Accounts payable for raw materials, beginning balance
20
21 Enter a formula into each of the cells marked with a ? below
22 Review Problem: Budget Schedules
23
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
39 Construct the production budget
40
41 Budgeted unit sales
42 Add desired finished goods inventory
43 Total needs
44 Less beginning inventory
45 Required production
B
1
45,000
$7 per unit
1
1
45,000
?
?
1
$65,000
75%
25%
30% of the budgeted unit sales of the next quarter
12,000 units
C
5 pounds
10% of the next quarter's production needs
23,000 pounds
40% in the quarter following purchase
$81,500
Year 2 Quarter
2
65,000
?
?
?
$0.80 per pound
60% in the quarter the purchases are made
?
?
?
?
?
3
115,000
Year 2 Quarter
2
65,000
?
?
?
?
Year 2 Quarter
2
?
3
115,000
?
?
?
?
?
3
Year 2 Quarter
2
3
?
?
E
?
?
4
65,000
?
?
?
?
?
?
4
65,000
4
4
?
?
?
?
?
?
?
?
?
?
F
Year 3 Quarter
1
85,000
85,000
?
?
Year 3 Quarter
1
Year
Year
?
?
?
?
?
?
?
.....
?
?
G
?
?
2
95,000
2
95,000
?
?
H
Year 3 Quarter
1
2
?
?
?
?
?
?
J
K
L
M
Transcribed Image Text:Requirement 2:
The company just hired a new marketing manager who insists 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
Budgeted unit sales
Selling price per unit
Chapter 8: Applying Excel
∞ a
1
2
3
4
5
6
7 Selling price per unit
8 • Accounts receivable, beginning balance
Data
A
Budgeted unit sales
1
45,000
$7
Year 2 Quarter
2
3
65,000 115,000
9 Sales collected in the quarter sales are made
10
• Sales collected in the quarter after sales are made
11
• Desired ending finished goods inventory is
12
• Finished goods inventory, beginning
13
• Raw materials required to produce one unit
14 • Desired ending inventory of raw materials is
15 • Raw materials inventory, beginning
16
• Raw material costs
17 • Raw materials purchases are paid
18 and
19 • Accounts payable for raw materials, beginning balance
$
B
1
4
65,000
45,000
с
2
7 per unit
Year 3 Quarter
1
2
85,000 95,000
65,000
D
3
115,000
5 pounds
10% of the next quarter's production needs
23,000 pounds
E
0.80 per pound
60% in the quarter the purchases are made
40% in the quarter following purchase
81,500
4
65,000
75%
25%
30% of the budgeted unit sales of the next quarter
12,000 units
65,000
F
Year 3 Quarter
1
85,000
G
2
95,000
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Follow-up Question
complete the excel sheet only showing formula and calculations
Transcribed Image Text:Requirement 2:
The company just hired a new marketing manager who insists 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
Budgeted unit sales
Selling price per unit
Chapter 8: Applying Excel
∞ a
1
2
3
4
5
6
7 Selling price per unit
8 • Accounts receivable, beginning balance
Data
A
Budgeted unit sales
1
45,000
$7
Year 2 Quarter
2
3
65,000 115,000
9 Sales collected in the quarter sales are made
10
• Sales collected in the quarter after sales are made
11
• Desired ending finished goods inventory is
12
• Finished goods inventory, beginning
13
• Raw materials required to produce one unit
14 • Desired ending inventory of raw materials is
15 • Raw materials inventory, beginning
16
• Raw material costs
17 • Raw materials purchases are paid
18 and
19 • Accounts payable for raw materials, beginning balance
$
B
1
4
65,000
45,000
с
2
7 per unit
Year 3 Quarter
1
2
85,000 95,000
65,000
D
3
115,000
5 pounds
10% of the next quarter's production needs
23,000 pounds
E
0.80 per pound
60% in the quarter the purchases are made
40% in the quarter following purchase
81,500
4
65,000
75%
25%
30% of the budgeted unit sales of the next quarter
12,000 units
65,000
F
Year 3 Quarter
1
85,000
G
2
95,000
Transcribed Image Text:J54
y en wanne
28 Total sales
29
30 Construct the schedule of expected cash collections
31
35 Third-quarter sales
36 Fourth-quarter sales
37 Total cash collections
32 Accounts receivable, beginning balance
33 First-quarter sales
34 Second-quarter sales
fx
A
38
39 Construct the production budget
40
41 Budgeted unit sales
42 Add desired finished goods inventory
43 Total needs
44 Less beginning inventory
45 Required production
46
47 Construct the raw materials purchases budget
48
49 Required production (units)
50 Raw materials required to produce one unit
51 Production needs (pounds)
52 Add desired ending inventory of raw materials (pounds)
53 Total needs (pounds)
54 Less beginning inventory of raw materials (pounds)
55 Raw materials to be purchased
56 Cost of raw materials per pound
57 Cost of raw materials to be purchased
63 Second-quarter purchases
64 Third-quarter purchases
65 Fourth-quarter purchases
66 Total cash disbursements
67
68
69
58
59 Construct the schedule of expected cash payments
60
61 Accounts payable, beginning balance
62 First-quarter purchases
70
71
$
B
$315,000
1
65,000
236,250 $
$ 301,250 $
1
45,000
19,500
64,500
(12,000)
52,500
1
1
?
?
?
?
?
?
?
?
?
?
?
?
C
$455,000
Year 2 Quarter
2
78,750
341,250
$805,000
?
?
?
?
?
?
?
420,000 $ 717,500
?
?
3
$ 113,750
Year 2 Quarter
2
?
?
?
Year 2 Quarter
2
3
4
65,000 115,000 65,000
34,500 19,500 25,500
99,500 134,500 90,500
(19,500) (34,500) (19,500)
80,000 100,000 71,000
603,750 $ 201,250
Year 2 Quarter
2
3
3
?
?
?
?
?
?
?
?
?
?
?
?
E
F
$455,000
F
4
4
4
341,250
$ 542,500 $ 1,981,250
?
?
?
?
?
?
?
?
?
$
?
?
?
F
$595,000
Year
65,000
315,000
455,000
805,000
341,250
Year
290,000
25,500
315,500
(12,000)
303,500
Year
Year
?
?
?
?
?
?
?
?
?
?
?
?
?
?
?
G
$665,000
Year 3 Quarter
1
85,000
28,500
113,500
(25,500)
88,000
Year 3 Quarter
1
H
?
?
?
2
95,000
I
J
K
L
M
N
O
P
Q
R
Solution
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