Question
I need help on this You have been asked to prepare the operating budgets for Buff Company which manufactures and sells a single product.The budgets
I need help on this
You have been asked to prepare the operating budgets for Buff Company which manufactures and sells a single product.The budgets are prepared by quarter for the year ending December 31, 2017. Each tab of the workbook contains a different operating budget. Your task is to fill in all cells in each tab that are shaded in orange: Be sure to complete all 7 operating budgets.The budgets must be completed in sequence. Provided below are some check figures; use these to check your work: Sales Budget:total sales for year 2017 (cell H21) = $765,000 Production Budget:total required production units for year 2017 (cell H19) = 7,300 Direct Materials Budget:total cost of direct materials purchases for year 2017 (cell H26) = $89,200 Direct Labor Budget:total cost of direct labor for year 2017 (cell H18) = $77,380 Manufacturing OH Budget:total overhead costs for year 2017 (cell H33) = $83,950 Manufacturing OH Budget: budgeted OH rate per direct labor hour (cell H36) = $11.50 Selling & Administrative Expense Budget:total costs for year 2017 (cell H31) = $143,650 Budgeted Income Statement:net income (cell D38) = $309,800
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These are the instructions on the excel project!
Instructions/Information for Excel Project
- This assignment is due Monday, April 2nd at 8:00 a.m.Use the Dropbox below this postto turn in your completed spreadsheet (the Help page on WTClass has a tutorial on using the Dropbox).
- This assignment is worth ten (10) participation points.
- Follow all instructions in the spreadsheet starting with entering the last three digits of your Buff ID in Cell E4 of the first worksheet.Failure to complete this step results in lost points.
- Use the check figures on the first worksheet as you complete each budget.
- The cells in orange are to be replaced with formulas or cell references that produce the seven required budget reports.Do NOT manually input numeric values!!
- The formulas you need to use aren't any more complicated than those explained in the Chapter 1, 2 & 4 WileyPLUS Excel Videos.
- Chapter 3 of the WileyPLUS Excel Videos shows you the basics of cell references.To learn more about cell references google "youtube Excel tutorial cell references".The only time you need to create a cell reference to another worksheet is in the Budgeted Income Statement.
- Some of the spreadsheet cells are password protected.Tampering with the password protection results in lost points.
- The seven required budgets are covered in Chapter 9.
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