This assignment is meant to assess your understanding of Business Budgets and the Budgeting Processes. Read the case below. Creating a Department Budget case.docx Homework: Scenario 1: The company has had a total revenue shortfall of 5% so far this year (you are 6 months in). The problem is not expected to get better and may get worse. Because of this, you are required to submit a new budget immediately which reduces your bottom line spending for the next 6 months. Open the excel spreadsheet (in excel). Example Budget Homework.xlsx Assume your budget for June is the same in every month (for July and to the end of the year). Add columns July to December, and then figure out how total 6 month spending of your department will goes down by 10% by the end of the year. Fill in your excel spreadsheet to make it happen and have a column which shows the new 6 month totals for each category. If called upon in class, you should be able to justify your decisions. Just reducing everything by 10% will get you fired. Scenario 2: In this scenario, the company actually did very well in the first 6 months of 2023. For 2024, customer acquisition is expected to be UP by 10%. Take just the left column (categories) and the last column (total spending for 2023) and create your new, proposed budget for next year (12 months of 2024). Add just one column, which is your total 12 months of spending for each category. If called upon in class, you should be able to justify your decisions. Just increasing everything by 10% will get you fired. Turn in two printed spreadsheets: Scenario 1 and Scenario 2.