Please complete questions 3 and 4. 1. is provided for data. Please show formulas used in excel table. Thank you!

1. The previous year's sales (2021) for the corresponding period were: April 85,000 bags May 90,000 bags June 100,000 bags July 95,000 bags August 100,000 bags The company expects the above volume of sales to increase by 10% for the period April 2022 August 2022. The budgeted selling price for 2022 is $11.50 per bag of chips. The company expects 10% of its sales to be cash (COD) sales. The remaining 90% 3. The final product (bags of chips) requires two direct materials: potatoes and packaging. 4 pounds of raw potatoes are required for each one-pound bag of potato chips. Management desires to have materials on hand (i.e., pounds of potatoes) at the end of each month equal to 20 percent of the following month's production needs. The beginning materials inventory, April 2022, is expected to be 75,284 pounds. Potatoes cost $1.20 per pound. Packaging material is purchased by the roll and 50 bags of chips are produced from each roll. The packaging is made from biodegradable, organic plant fiber that extends the shelf life of the potato chips while preserving its freshness. Management desires to have packaging on hand at the end of each month equal to 12 percent of the following month's production needs. The beginning inventory of packaging (i.e., rolls of packaging material) in April 2022 is expected to be 226 rolls. Packaging is expected to cost $14 per roll. Note, budgeted production in July is required in order to complete the direct materials budget for June. Also, use the @ROUNDUP function to round up to the nearest whole number rolls of packaging material to purchase. Further, because two direct 2/3 2/3 - materials are required for production - potatoes and rolls of packaging - you will need a separate schedule for each direct material. Prepare a Direct Materials budget. 4. Each bag of chips requires 0.12 hours of direct labor. Each hour of direct labor costs the company $18. Prepare a Direct Labor budget