ONLY PREPARE ASSUMPTION SHEETS WITH THE DATA FOUND IN THE PROBLEMS NOT THE ACTUAL DATA SHEET

6. Variable selling and administrative expenses consist of outward freight (S200 per chocolate bars) and sales commission (4 percent of the selling price per bar). Fixed selling and administrative expenses include administration ($30,000 per month) and marketing (S40,000 per month). 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 500,000 chocolate bars. 8. Prepare a Budgeted Income Statement for the quarter for ChocoAlmo. Assume interest expense of so, and income tax expense of 18% of income before taxes. ChocoAlmo's goal for the quarter is to make its net income greater than 8% 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 returns one of the labels based on whether the condition (net income > sales revenue*8%) is met or not. 6. Variable selling and administrative expenses consist of outward freight (S200 per chocolate bars) and sales commission (4 percent of the selling price per bar). Fixed selling and administrative expenses include administration ($30,000 per month) and marketing (S40,000 per month). 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 500,000 chocolate bars. 8. Prepare a Budgeted Income Statement for the quarter for ChocoAlmo. Assume interest expense of so, and income tax expense of 18% of income before taxes. ChocoAlmo's goal for the quarter is to make its net income greater than 8% 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 returns one of the labels based on whether the condition (net income > sales revenue*8%) is met or not