Please include the excel formulas too! If someone can help me I will give a thumbs up! Please help me with the last two sections that are not filled out yet. Thanks! :) !Required informationThe Chapter 8 Form worksheet is to be used to create your own worksheet version of the Review Problem in the text.Download the Applying Excel form and enter formulas in all cells that contain question marks.For example, in cell B26 enter the formula "= B5",Check your worksheet by changing the budgeted unit sales in Quarter 2 of Year 2 in cell C5 to 75,000 units. The required production for the year should be 274,000 units.The cost of raw materials to be purchased for the year should be $1,106,800, whereas the total cash disbursements for the year should be $1,095,980. If you do not get thisanswer, find the errors in your worksheet and correct them. A1fxChapter 8: Applying ExcelAВDEFGH1 Chapter 8: Applying Excel23 DataYear 2 QuarterYear 3 Quarter413425 Budgeted unit sales40.00075.000100,00050,00070,00080,0006$8 per unit7· Selling price per unit• Accounts receivable, beginning balance9 · Sales collected in the quarter sales are made8$65,00075%10 · Sales collected in the quarter after sales are made11 · Desired ending finished goods inventory is12 · Finished goods inventory, beginning13 · Raw materials required to produce one unit14 · Desired ending inventory of raw materials is15 · Raw materials inventory, beginning16 · Raw material costs17 · Raw materials purchases are paid25%30% of the budgeted unit sales of the next quarter12,000 units5 pounds10% of the next quarter's production needs23,000 pounds$0.80 per pound60% in the quarter the purchases are made40% in the quarter following purchase$81,50018and19 · Accounts payable for raw materials, beginning balance2021 Enter a formula into each of the cells marked with a ? below22 Review Problem: Budget Schedules2324 Construct the sales budgetYear 2 QuarterYear 3 Quarter251234140,000$875.00026 Budgeted unit sales27 Selling price per unit28 Total sales100,000$880.000$850,00070,000$8$8$8$320,000$600,000$800,000$400,000$560.000$640,0002930 Construct the schedule of expected cash collectionsYear 2 Quarter311234Year32 Accounts receivable, beginning balance33 First-quarter sales34 Second-quarter sales35 Third-quarter sales36 Fourth-quarter sales37 Total cash collections$ 65,000$65,00080,000450,000 $ 150,000240,000 $320,000600,000600,000 $ 200,000800,000300,000300.000$ 305,000 $ 530,000 $ 750,000 $ 500,000 $ 2,085,0003839 Construct the production budgetYear 2 QuarterYear 3 QuarterYear265,000401341241 Budgeted unit sales42 Add desired finished goods inventory43 Total needs50,00021,00071,00070,00024,00040,00075,000100,00080,00022,50030,00015,00021,00062,500105,000115,000286,00094,00012,00050,50044 Less beginning inventory22,50015,00012,00021,00030,00085,00045 Required production82,50056,000274,00073,0004647 Construct the raw materials purchases budgetYear 2 QuarterYear 3 Quarter48134Year149 Required production (units)50 Raw materials required to produce one unit51 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 purchased56 Cost of raw materials per pound57 Cost of raw materials to be purchased????????????????5859 Construct the schedule of expected cash paymentsYear 2 Quarter601234Year61 Accounts payable, beginning balance62 First-quarter purchases63 Second-quarter purchases64 Third-quarter purchases65 Fourth-quarter purchases????66 Total cash disbursements????67

Question

Please include the excel formulas too! If someone can help me I will give a thumbs up! Please help me with the last two sections that are not filled out yet. Thanks! :) !Required informationThe Chapter 8 Form worksheet is to be used to create your own worksheet version of the Review Problem in the text.Download the Applying Excel form and enter formulas in all cells that contain question marks.For example, in cell B26 enter the formula &#34;= B5&#34;,Check your worksheet by changing the budgeted unit sales in Quarter 2 of Year 2 in cell C5 to 75,000 units. The required production for the year should be 274,000 units.The cost of raw materials to be purchased for the year should be $1,106,800, whereas the total cash disbursements for the year should be $1,095,980. If you do not get thisanswer, find the errors in your worksheet and correct them. A1fxChapter 8: Applying ExcelAВDEFGH1 Chapter 8: Applying Excel23 DataYear 2 QuarterYear 3 Quarter413425 Budgeted unit sales40.00075.000100,00050,00070,00080,0006$8 per unit7· Selling price per unit• Accounts receivable, beginning balance9 · Sales collected in the quarter sales are made8$65,00075%10 · Sales collected in the quarter after sales are made11 · Desired ending finished goods inventory is12 · Finished goods inventory, beginning13 · Raw materials required to produce one unit14 · Desired ending inventory of raw materials is15 · Raw materials inventory, beginning16 · Raw material costs17 · Raw materials purchases are paid25%30% of the budgeted unit sales of the next quarter12,000 units5 pounds10% of the next quarter's production needs23,000 pounds$0.80 per pound60% in the quarter the purchases are made40% in the quarter following purchase$81,50018and19 · Accounts payable for raw materials, beginning balance2021 Enter a formula into each of the cells marked with a ? below22 Review Problem: Budget Schedules2324 Construct the sales budgetYear 2 QuarterYear 3 Quarter251234140,000$875.00026 Budgeted unit sales27 Selling price per unit28 Total sales100,000$880.000$850,00070,000$8$8$8$320,000$600,000$800,000$400,000$560.000$640,0002930 Construct the schedule of expected cash collectionsYear 2 Quarter311234Year32 Accounts receivable, beginning balance33 First-quarter sales34 Second-quarter sales35 Third-quarter sales36 Fourth-quarter sales37 Total cash collections$ 65,000$65,00080,000450,000 $ 150,000240,000 $320,000600,000600,000 $ 200,000800,000300,000300.000$ 305,000 $ 530,000 $ 750,000 $ 500,000 $ 2,085,0003839 Construct the production budgetYear 2 QuarterYear 3 QuarterYear265,000401341241 Budgeted unit sales42 Add desired finished goods inventory43 Total needs50,00021,00071,00070,00024,00040,00075,000100,00080,00022,50030,00015,00021,00062,500105,000115,000286,00094,00012,00050,50044 Less beginning inventory22,50015,00012,00021,00030,00085,00045 Required production82,50056,000274,00073,0004647 Construct the raw materials purchases budgetYear 2 QuarterYear 3 Quarter48134Year149 Required production (units)50 Raw materials required to produce one unit51 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 purchased56 Cost of raw materials per pound57 Cost of raw materials to be purchased????????????????5859 Construct the schedule of expected cash paymentsYear 2 Quarter601234Year61 Accounts payable, beginning balance62 First-quarter purchases63 Second-quarter purchases64 Third-quarter purchases65 Fourth-quarter purchases????66 Total cash disbursements????67

Accepted Answer

A budget is defined as an estimate of revenue income and expenses for a set period of time. The…

ntain question marks. f Year 2 in cell C5 to 75,000 units. The required production for the year she 10, whereas the total cash disbursements for the year should be $1,095,98