I dont understand this assignment at all they gave us a example to go by but i still dont know what to do

1. The Decorldeas Company manufactures hand-crafted natural wood display cupboards. Currently the company makes only one size of display cupboard, which is 60-inch height, 48 -inch width, and 19-inch depth; and has 6 shelves. The final product consists of a routed, sanded, assembled, and stained oak wood cupboard. Direct materials include oak shelving wood and hickory plywood backing board. Other materials, such as wood screws, sand paper, stain, wood glue, and packaging, are treated as indirect materials. Decorldeas is preparing budgets for the fourth quarter ending December 31, 2022. For each requirement below prepare budgets by month for October, November, and December, and a total budget for the quarter. The previous year's sales (2021/22) for the corresponding period were: The company expects the above volume of display cupboard sales to increase by 15% for the period October 2022 - February 2023 . The budgeted selling price for 2022 is $785.00 per display cupboard. The company expects 5% of its sales to be cash (COD) sales. The remaining 95% of sales will be made on credit. Prepare a Sales Budget for Decorldeas. 2. The company desires to have finished goods inventory on hand at the end of each month equal to 15 percent of the following month's budgeted unit sales. On September 30,2022 , there were 450 display cupboards on hand. (Note, an estimate of sales in January is required in order to complete the production budget for December). Prepare a Production budget. 3. The display cupboards require two direct materials: oak shelving wood and hickory plywood backing board. Oak shelving wood: Thirty (30) feet of 121 oak shelving wood are required for each cupboard produced. Management desires to have materials on hand at the end of each month equal to 10 percent of the following month's cupboard production needs. The beginning inventory of oak wood, October 2022, was 10,150 feet of wood. Oak wood is expected to cost $5.00 per foot. Hickory plywood backing board: Hickory plywood backing board is purchased by the sheet and 2 backing boards can be cut from each sheet. Management desires to have plywood on hand at the end of each month equal to 15 percent of the following month's production needs. The beginning inventory of plywood, October 2022, was 100 sheets. Hickory plywood is expected to cost $45 per sheet. (Note, budgeted production in January is required in order to complete the direct materials budget for December. Also, use the @ROUND function to round up to the nearest whole number the number of sheets of plywood to purchase - "DM quantities to purchase"). Prepare a Direct Materials budget. Also, because two direct materials are required for production - oak wood and hickory plywood - you will need a separate schedule for each direct material. 4. Each display cupboard requires 10 hours of direct labor. Decorldeas uses a series of table saws. table routers and sanders set up for specialized operations to achieve production efficiencies. Direct. labor costs the company $22 per hour. Prepare a Direct Labor budget. 5. Decorldeas budgets indirect materials (e.g., wood screws, sandpaper, stain, packaging) at $25.50 per display cupboard. Decorldeas treats indirect labor 5. Decorldeas budgets indirect materials (e.g. wood screws, sandpaper, stain, packaging) at \$25.50 per display cupboard. Decorldeas treats indirect labor and utilities as mixed costs. The variable components are $10.40 per display cupboard for indirect labor and S8.20 per display cupboard for utilities. The following fixed costs per month are budgeted for indirect labor. $50,000, utilities, $10,000, and other, $65,800. Prepare a Manufacturing Overhead budget. 6. Variable selling and administrative expenses are $100.50 per display cupboard sold. Fixed selling and administrative expenses are $80,000 per month. These costs are not itemized, i.e., the budget has only two line items - variable operating expenses and fixed operating expenses. Prepare an Operating Expenses budget. 7. Prepare a Budgeted Manufacturing Cost per unit budget. Refer to exhibit 9-11 for guidance. To calculate FMOH/unit calculate total FMOH for the year and divide this by budgeted production for the year. The total production volume for the year is budgeted at 50,000 display cupboards. 8. Prepare a Budgeted Income Statement for the quarter for Decorldeas. Assume interest expense of So, and income tax expense of 24% of income before taxes. Decorldeas's goal for the quarter is to make its net income greater than 10% of its sales revenue. To determine whether the company achieves the goal, use @IF function. In the IF function, you need to label "Achieved" if it achieves the goal (if the condition is met) or "Not Achieved" if it does not achieve (if the condition is not met). Use the CELL right next to 'Net Income' cell to make the IF function that retums one of the labels based on whether the condition (net income > sales revenue* 10% ) is met or not. 1 Decorldeas Budget 2 Prepared Budget Assumptiona Sales Budget Asumption Unit Sale Price Percent of Cash Sale Percentage of Credit Sales Expected Sale Increase 2021/2022 Sales October 2,000 November 2,800 December 4,000 February 3,600 \$heet)