OBJECTIVE The purpose of this assignment is prepare certain budgets using Excel in an efficient and effective manner. DATA SET Purely Inc. produces hand sanitizer sold in 10 oz. containers. The production manager is completing the budget process for the third quarter of 2020. Sales units and additional information for the 3rd quarter are as follows: B D E July 10,000 August 14,000 September 15,000 $ 8.00 per 10 oz container (unit) 1 Data Required for Budget Preparation 2 3 4 Expected Unit Sales 5 6 Selling price 7 8 Inventory balance requirement 9 Beginning inventory (July 1) 10 Ending inventory (September 30th) 11 12 Direct labor hours (DLH) required per unit 13 14 DLH wage 15% of next month's sales units 1,200 units 2,400 units 0.25 15.00 per hour REQUIREMENTS 1. This is an individual assignment. Each student is responsible for submitting his/her own work. a. 2. Create an Excel file. Label the first worksheet tab as DESCRIPTION. In this sheet, enter your name, the date, and a title that briefly describes the assignments b. Label the second sheet BUDGET and enter the information as shown above (data table). 3. In the BUDGET sheet, create a sales budget, a production budget, and a direct labor budget for each month and for the total 3rd quarter in good form. Prepare columns for each month and one for the quarter. (See Chapter 22 of the etext for examples of these budgets.) Hints: There should no direct inputs in the budget hedul Every cell of budget should be a reference to the data table or a calculation of other cells in the spreadsheet. Do not use an "x" to indicate multiplication. Doing so will change your cell into a text format and you will be unable to use it for future calculations. 4. Answer the following question by inserting your response in a text box below your budgets in the Excel spreadsheet. If Purely Inc. revised its July sales forecast from 10,000 gallons to 12,000 gallons, what would the total sales dollars and direct labor hours be for the quarter? Specifically identify at least two management decisions that would be impacted by the increase in units sold. Your answer should be complete and be comprehensible to someone who does not have access to the assignment instructions. Hint: To insert a textbox in Excel, click on the Toolbar labeled Insert, then click on the Text dropdown menu. (There should be a rectangular icon with a slanted "A" in the center.) Select textbox, and then place it in the body of the worksheet