Question: The Excel worksheet form that appears below
The Excel worksheet form that appears below is to be used to recreate the Review Problem related to Mynor Corporation. Download the workbook containing this form from Connect, where you will also receive instructions about how to use this worksheet form. 
You should proceed to the requirements below only after completing your worksheet. Required: 1. Check your worksheet by changing the budgeted unit sales in Quarter 2 of Year 2 in cell C5 to 75,000 units. The total expected cash collections for the year should now be $2,085,000. If you do not get this answer, find the errors in your worksheet and correct them. Have the total cash disbursements for the year changed? Why or why not? 2. 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? b. What is the total required production for the year under this revised budget? c. What is the total cost of raw materials to be purchased for the year under this revised budget? d. What are the total expected cash disbursements for raw materials for the year under this revised budget? e. After seeing this revised budget, the production manager cautioned that due to the limited availability of a complex milling machine, the plant can produce no more than 90,000 units in any one quarter. Is this a potential problem? If so, what can be done about it?
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A 1 Chapter E Applying Eacel 3 Dota Year 2Qarter 2 60.000 Vear a Quarter 3 Budgeted unit sales 40.000 1.000 50.000 78.000 80.00 7Selling priee per nt OAccouts ecevable, beginning balance 9 Sales colected in the quater ales a made 10 - Sales collected in the quaner ater sas ae made 11- Desind ending trished geads inertery is 12 Finished goods vertory, beginning 13 - Raw materials regaed ta preduca one unit 14 - Desired onding inventary ef a mateias is 15 Raw materiala imentery. begienin 16 Raw material conta 17 - Raw materials purchasen a paid 18 and 19 - Accouts paable far u naterals, begiming balance 20 21 Ertera formula into each of the cele marked wh a? below 2 Review Preblem. Budget Schedles 23 24 Construct the sules budger 75% 25% 2% of the budgeted unt sales of the net ater 12.000 te 5 pounds 10% af the net quaters prduction seed 23 000 pounde S00 p peand 0as in the quater the purchanen a made 40% n the quater folewing pcha Year 2 Quarter Year Quarter 26 Budgeted unt alen 27 Seling price pe nt 28 Total e 30 Construct the achedvie of especind canh collecfene Vear 2 Quarter 32 Beginning talence ccounts recevable 38 Feater sales 34 Secendquarte sas 35 Third-quater sales 36 Fauthquter sals 37 Total cah colectione 29 Conetruct the prodvctlon budyet 40 41 dgeted unt ses 42 Add desied ending feished goode inentay 4 Total seedo 44 Lens beginning feishet goode ivertay Required predeonint 46 47 Constuct the wmaeriala purchaes batget 48 40 Rpied produchon te 50 Raw materale recuired te produce one unt pend SI Production reede (peunde 52 Add desied ending invemory of raw materials (peunds) 53 Total eeds pnds) 54 Less begining ivetory of raw materials peanda) 58 Raw mateias to be pchaed pound) 56 Cost of raw material per pound 57 Cont of raw materiata ta be purchamed Year 2 Quarter Year 3 Quarter Vear Yeur 2 Ouerter Year Quater Year 50 Construet the chedule of pecind canh paymen Year 2 Quarter 60 Year 61 Beginning balance accounts payable Fat-ater purchases 68 Secend-quarter pechanes 64 Thirdater prchases 65 Fauth-quarter pechases 06 Total cah disbusements 67 harterem ntom Year 2 Quarter Year 3 Quarter Data 1 2 4 1 Budgeted unit sales Selling price per unit. 50,000 70,000 120,000 80,000 90,000 100,000 $7
> Fitness Fanatics is a regional chain of health clubs. The managers of the clubs, who have authority to make investments as needed, are evaluated based largely on return on investment (ROI). The company’s Springfield Club reported the following results fo
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> Wallis Company manufactures only one product and uses a standard cost system.The company uses a predetermined plantwide overhead rate that relies on direct labor-hours as the allocation base. All of the company’s manufacturing overhead
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> Wheeling Company is a merchandiser that provided a balance sheet as of September 30 as shown below: Wheeling Company Balance Sheet September 30 Assets Cash.......................................................................................$ 59,000 Ac
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> Sierra Company incurs the following costs to produce and sell its only product. Variable costs per unit: Direct materials ................................................................$9 Direct labor ...................................................
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> Tom Emory and Jim Morris strolled back to their plant from the administrative offices of Ferguson & Son Manufacturing Company. Tom is manager of the machine shop in the company’s factory; Jim is manager of the equipment maintenance department. The men ha
> O’Brien Company manufactures and sells one product. The following information pertains to each of the company’s first three years of operations: Variable costs per unit: Manufacturing: Direct materials ...................................................
> O’Brien Company manufactures and sells one product. The following information pertains to each of the company’s first three years of operations: Variable costs per unit: Manufacturing: Direct materials ...................................................
> The Excel worksheet form that appears below is to be used to recreate the main example in the text pertaining to Colonial Pewter Company. Download the workbook containing this form from Connect, where you will also receive instructions about how to use t
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> The Excel worksheet form that appears below is to be used to recreate the Review Problem pertaining to Ferris Corporation. Download the workbook containing this form from Connect, where you will also receive instructions about how to use this worksheet f
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> Refer to the financial statements for Rusco Company in Problem 14–13. Because the Cash account decreased so dramatically during this year, the company’s executive committee is anxious to see how the income statement wo
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> Weller Industries is a decentralized organization with six divisions. The company’s Electrical Division produces a variety of electrical items, including an X52 electrical fitting. The Electrical Division (which is operating at capacity) sells this fitti
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> Stavos Company’s Screen Division manufactures a standard screen for high-definition televisions (HDTVs). The cost per screen is: Variable cost per screen………â€&brvba
> Norwall Company’s budgeted variable manufacturing overhead cost is $3.00 per machine-hour and its budgeted fixed manufacturing overhead is $300,000 per month. The following information is available for a recent month: a. The denominator activity of 60,00
> Hrubec Products, Inc., operates a Pulp Division that manufactures wood pulp for use in the production of various paper goods. Revenue and costs associated with a ton of pulp follow: Hrubec Products has just acquired a small company that manufactures pap
> In each of the cases below, assume Division X has a product that can be sold either to outside customers or to Division Y of the same company for use in its production process. The managers of the divisions are evaluated based on their divisional profits
> Division A manufactures electronic circuit boards. The boards can be sold either to Division B of the same company or to outside customers. Last year, the following activity occurred in Division A: Selling price per circuit board …………………………………………………..$1
> What does a manufacturing cycle efficiency (MCE) of less than 1 mean? How would you interpret an MCE of 0.40?
> Why is it a good idea to create a “Budgeting Assumptions” tab when creating a master budget in Microsoft Excel?
> What are the two stages of allocation in activity-based costing?
> If the units produced equals the units sold, which method would you expect to show the higher net operating income, variable costing or absorption costing? Why?
> Why aren’t transactions involving accounts payable considered to be financing activities?
> Should a company allocate its common fixed costs to business segments when computing the break-even point for those segments? Why?
> What general guidelines can you provide for interpreting the statement of cash flows?
> Sunk costs are easy to spot—they’re the fixed costs associated with a decision.” Do you agree? Explain.
> Stahl Company is conducting a time-driven activity-based costing study in its Shipping Department. To aid the study, the company provided the following data regarding its Shipping Department and the customers served by the department: Required: 1. Usin
> Refer to the data in Exercises 7A–1 and 7A–2. Now assume that Saratoga Company would like to answer the following “what if” question using its time-driven activity-based costing syst
> Sako Company’s Audio Division produces a speaker that is used by manufacturers of various audio products. Sales and cost data on the speaker follow: Selling price per unit on the intermediate market ……………………………….$60 Variable costs per unit……………………………………
> Refer to the data in Exercise 7A–1. In addition, assume that Saratoga Company provided the following activity data for all jobs produced during the year: Data given in Exercise 7A–1: Saratoga Company manufactures job
> Saratoga Company manufactures jobs to customer specifications. The company is conducting a time-driven activity-based costing study in its Purchasing Department to better understand how Purchasing Department labor costs are consumed by individual jobs. T
> Markus Company’s common stock sold for $2.75 per share at the end of this year. The company paid a common stock dividend of $0.55 per share this year. It also provided the following data excerpts from this year’s finan
> Ravenna Company is a merchandiser that uses the indirect method to prepare the operating activities section of its statement of cash flows. Its balance sheet for this year is as follows: During the year, Ravenna paid a $6,000 cash dividend and it sold a
> Cardinal Company is considering a five-year project that would require a $2,975,000 investment in equipment with a useful life of five years and no salvage value. The company’s discount rate is 14%. The project would provide net operati
> Cane Company manufactures two products called Alpha and Beta that sell for $120 and $80, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 100,000 units of each product
