Complete a master budget using Excel in your assigned group. Start with a blank Excel workbook. Using someone else's spreadsheet is a violation of the Academic Integrity Policy. Use input boxes for all \% and proper cell referencing. Format all numbers as accounting with the quarterly total of each budget including dollar signs where applicable. Do not round any given decimals but round all other numbers to the nearest dollar (no decimals). Make the quarterly total for each budget bold and a larger font. Use at least one color. Add grid lines. Put all budgets on one tab in the order below with the months and quarterly totals lined up vertically. On the same tab include a detailed list of what each group member contributed and what \% of the project each completed. Submit one Excel file per group named "Group \# MB" in Blackboard by attaching your Excel file not providing a link. 1. Sales budget Create a sales budget for the 1st quarter that shows expected sales revenue for January, February, and March and total sales revenue for the quarter. Sales in units are expected to be: ected to be $19/ unit. 2. Cash collections budget Cash sales are generally 21% and credit sales are generally 79%. Credit sales are typically collected: 33% in the month of sale, 66% in the following month after the month of sale and 1% are never collected. What is the cash collections budget for January, February, and March and for the quarter? 3. Production budget - The company plans to have ending inventory each month of 16% of the following month's expected sales. What is the production budget for January, February, and March and for the 1st quarter? 4. DM budget 4 pounds of DM is needed per unit at a cost of $2 per pound. Ending inventory of DM should be 11% of next month's production needs. What is the total cost of DM for January, February, and March and for the 1st quarter? 5. DL budget DL hours per unit is, 15 . The DL rate per hour is $18. What is the DL budget for January, February, and March and for the 1st quarter? 5. DL budget DL hours per unit is. 15. The DL rate per hour is $18. What is the DL budget for January, February, and March and for the 1st quarter? 6. MOH budget The company's variable MOH rate is $13 per DL hour and the company's fixed MOH is $5,300 per month. How much MOH will be budgeted for January, February, and March and for the 1st quarter? 7. Capital Expenditures Budget The company expects to make the below purchases of PPE in the 1st quarter. Complete a capital expenditures budget for January, February, and March and for the 1ts quarter. January Remodeling $26,000 8. Combined cash budget Prepare a combined cash budget for January, February, and March and for the 1st quarter that includes cash collections and payments for the cost of DM,DL,MOH and capital expenditures found in prior budgets. Follow the example in BB. Beginning cash balance on Jan. 1:$64,000 Complete a master budget using Excel in your assigned group. Start with a blank Excel workbook. Using someone else's spreadsheet is a violation of the Academic Integrity Policy. Use input boxes for all \% and proper cell referencing. Format all numbers as accounting with the quarterly total of each budget including dollar signs where applicable. Do not round any given decimals but round all other numbers to the nearest dollar (no decimals). Make the quarterly total for each budget bold and a larger font. Use at least one color. Add grid lines. Put all budgets on one tab in the order below with the months and quarterly totals lined up vertically. On the same tab include a detailed list of what each group member contributed and what \% of the project each completed. Submit one Excel file per group named "Group \# MB" in Blackboard by attaching your Excel file not providing a link. 1. Sales budget Create a sales budget for the 1st quarter that shows expected sales revenue for January, February, and March and total sales revenue for the quarter. Sales in units are expected to be: ected to be $19/ unit. 2. Cash collections budget Cash sales are generally 21% and credit sales are generally 79%. Credit sales are typically collected: 33% in the month of sale, 66% in the following month after the month of sale and 1% are never collected. What is the cash collections budget for January, February, and March and for the quarter? 3. Production budget - The company plans to have ending inventory each month of 16% of the following month's expected sales. What is the production budget for January, February, and March and for the 1st quarter? 4. DM budget 4 pounds of DM is needed per unit at a cost of $2 per pound. Ending inventory of DM should be 11% of next month's production needs. What is the total cost of DM for January, February, and March and for the 1st quarter? 5. DL budget DL hours per unit is, 15 . The DL rate per hour is $18. What is the DL budget for January, February, and March and for the 1st quarter? 5. DL budget DL hours per unit is. 15. The DL rate per hour is $18. What is the DL budget for January, February, and March and for the 1st quarter? 6. MOH budget The company's variable MOH rate is $13 per DL hour and the company's fixed MOH is $5,300 per month. How much MOH will be budgeted for January, February, and March and for the 1st quarter? 7. Capital Expenditures Budget The company expects to make the below purchases of PPE in the 1st quarter. Complete a capital expenditures budget for January, February, and March and for the 1ts quarter. January Remodeling $26,000 8. Combined cash budget Prepare a combined cash budget for January, February, and March and for the 1st quarter that includes cash collections and payments for the cost of DM,DL,MOH and capital expenditures found in prior budgets. Follow the example in BB. Beginning cash balance on Jan. 1:$64,000