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Need answered in excel by 11am tomorrow with steps please. FN3140: Module 5 Budget and Capital Decisions Exercise 5.2 Preparing Operating Budgets Snip and Chip

Need answered in excel by 11am tomorrow with steps please.

image text in transcribed FN3140: Module 5 Budget and Capital Decisions Exercise 5.2 Preparing Operating Budgets Snip and Chip Inc. sells silk upholstery curtains for $150 each. The project's budgeted unit sales for four months during the current year appear below: February $39,000 April $42,000 May $44,000 June $40,000 Additional information: The project desires to have an inventory at the end of each month equal to 15 percent of the following month's budgeted unit sales. Each curtain requires 2.0 yards of fabric. At the end of each month, the project decides to have 20 percent of the production material required for the next month on hand. The fabric costs $25 per yard. Each curtain produced requires 1 hour of direct labor. The project pays $27 per hour to its employees. Prepare the following budgets for the project: Production budget for the month of April Materials purchase budget for April Submission Requirements: Answer each problem in detail with conclusions and results. Submit the calculations in a Microsoft Excel file, showing step-by-step calculations. Submit the responses in a Microsoft Word document meeting the following criteria: o Font: Arial, Size: 12 point o Length: 2-3 pages Evaluation Criteria: The exercise rubric will be used to evaluate your responses. 1

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