Directions: Using the data for Boostarama Company below, develop a spreadsheet that could be used to solve similar problems with minimal re$-$entry. The best strategy for developing such a spreadsheet is to create an area of the spreadsheet for data entry, while the rest of the spreadsheet uses the information entered in those cells to solve the problem. The numbers given should all be put in the data entry area, labeled clearly as to what each represents. The answers to the questions below should also be clearly labeled. Your spreadsheet should work to produce answers to the questions regardless of what numbers are put into the data entry area; for example, if I change expected sales volume in April to $2,000,$ your spreadsheet should automatically recalculate the budget numbers to yield the appropriate answers at that sales volume.

The following information is available for Boostarama Company:

Expected sales volume:

April $1,430$ units

May $1,800$ units

June $1,750$ units

July $1,000$ units

Selling price per unit $$30$

Beginning finished goods inventory, April $1(210$ units$)$ $$5,250$

Direct materials needed per unit $5$ pounds

Total direct labor time per finished unit of product $2$ hours

Direct materials cost per pound $$0\mathrm{.}50$

Direct labor cost per hour $$8$

Additional information:

a$.$ The desired finished goods inventory every month is $15\%$ of the next month's sales.

b$.$ Variable manufacturing overhead is applied based on direct labor hours. Variable manufacturing overhead rate is $$2\mathrm{.}40/$DLH$.$ Fixed overhead costs are $$3,200$ per month.

c$.$ Period expenses are $$5,000$ per month.

REQUIRED $($Please show budgets for the individual months as well as for the Quarter$)$:

$1.$ Prepare sales budgets for the second Quarter.

$2.$ Prepare production budgets for the second Quarter.

$3.$ Prepare direct materials budgets for the second Quarter.

$4.$ Prepare direct labor budgets for the second Quarter.

$5.$ Prepare manufacturing overhead budgets for the second Quarter.

$6.$ Prepare ending finished goods budgets for the second Quarter.

$7.$ Prepare cost of goods sold budgets for the second Quarter.

$8.$ Prepare a budgeted income statement for the second Quarter.