For the first quarter of 2017, do the following (a) Prepare a sales budget. This is similar to illustration 21-3 on poge 1088 of your textbook. (b) Prepare a production budget. This is similar to ilustration 21-5 on page 1089 of your textbook (c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to IMustration 21-7 on page 1091 of your textbook. (d) Prepare a direct labor budget. (For calculations, round to the nearest hour.) This is similar to IlMustration 21-9 on poge 1094 of your textbook (e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dollar.) This is simlar to lustration 21-10 on poge 1094 of your textbook (0 Prepare a selling and administrative budget. This is similar to ilustration 21-11 on page 1095 of your textbook. e) Prepare a budgeted income statement. (Round intermediate calculations to the nearest dollar.) This is similar to illustration 21-13 on page 1096 of your textbook 8 (h) Prepare a cash budget. This is similar to illustration 21-17 on page 1100 of your textbook (You will need to prepare schedules for expected collections from customers and expected payments to vendors first See illustrations 21-15 and 21-16 on page 10 1 Rules: 2|Use Excel's functionality to your beneft. Points are lost fo lack of form 3 Use proper formats for schedules, following the referenced textbook examples. 24 Use dollar-signs and underscores where appropriate. 25 Double-check your workl Verify your formula and logicl 26 27 Grading Guidelines: 28 Effective Use of Excel 29 Facts, Logic 30 Completeness 31 Spelling. Punctuation, Value Format 32 40% 20% 30% 10% 34 35 36 37 4InstructionsFacts S Student's Solution Ready