The facts for this problem are presented on the Facts tab of this workbook. Instructions-Your solutions should be clearly labeled on the Solutions tab of this workbook. For the first quarter of 2017, do the following (a) Prepare a sales budget. This is similar to illustration 21-3 on poge 1088 of your textbook (b) Prepare a production budget. This is similar to lillustration 21-5 on page 1089 of your textbook. (c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to Ilustration 21-7 on page 1091 of your textbook (d) Prepare a direct labor budget.(For calculations, round to the nearest hour) This is similar to Ilmlustration 21-9 on page 1094 of your textbook. (e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dolar.) This is similar to lmustration 21-10 on page 1094 of your textbook (0 Prepare a selling and administrative budget. This is similar to illustration 21-11 on page 109s of your textbook. s) Prepare a budgeted income statement. (Round intermediate calculations to the nearest dollar.) This is similar to ilustration 21-13 on page 1096 of your textbook B (h) Prepare a cash budget. This is similar to Illustration 21-17 on page 1100 of your textbook (You will need to prepare schedules for expected collections from customers and expected payments to vendors first. See lmustrations 21-15 and 21-16 on page 109 1 Rules: 21 Use Excel's functionality to your benefit. Points are lost fo lack of formul 3 : Use proper formats for schedules, following the referenced textbook examples. 24Use dollar-signs and underscores where appropriate. 25 Double-check your workl Verify your formula and logic 26 27 Groding Guidelines: 28 Effective Use of Excel 29 Facts, Logic 30 Completeness 1Spelling, Punctuation, Value Format 32 40% 20% 30% 10% 34 35 36 37 4 InstructionsFacts S Student's Solution Ready