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 34 quarter are as follows: 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. 2. Create an Excel file. a. 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 provided and for the total 3rd quarter. Prepare columns for each month and one for the quarter. Your spreadsheet should be prepared in good form with proper formatting (commas, underlines, headings) Hints: There should be no direct inputs in the budget schedules. Every cell of the budget should be a reference to the data table or a calculation of other cells in the spreadsheet. 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 soles forecast from 10,000 units (10 oz. each) to 12,000 units (10 oz. each), 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