11) Nestle Inc makes two products, bottled water and baby food. Selected budgetary data for 2019 follow: Bottled Water Baby Food 1.60 1.50 3.25 2.25 Requirements for each finished component: Direct Materials in (lbs) Direct Labor (hours) Product information: Sales price Sales (units) Estimated beginning inventory (units) Desired ending inventory (units) $ $ 160.00 10,500.00 950.00 500.00 150.00 11,100.00 1,000.00 775.00 Direct Material Information $ Cost per pound Estimated beginning inventory in pounds Desired ending inventory in pounds 2.35 3,450.00 4,050.00 The company expects the average wage rate to be $18 per hour in 2019. Nestle uses direct labor hours to apply overhead Each year the firm determines the overhead application rate for the year based on budgeted direct labor hours for the year, Factory O/H Info 255,000.00 Fixed Costs Variable Costs Total 307,500.00 562,500.00 Advertising Sales salaries Travel and entertainment Depreciation-warehouse Office salaries Executive salaries Supplies Depreciation-office Total Selling & Admin Info 62,000.00 213,500.00 56,000.00 4,200.00 58,000.00 251,000.00 4,250.00 6.150.00 655,100.00 Prepare an excel sheet that contains the following schedules or statements for 2019 Sales Budget Production Budget Direct Materials Purchases Budget Direct Labor Budget Cost of Goods Sold Budget Budgeted Income Statement- last item labeled After-Tax Operating Income (32% Rate)