Use the excel template attached down

Assignment: Axiom Mobile Plus company approached you as Management Accounting expert to assist them in preparing their 2021 budget. They provided you with the following data: - Expected number of units to be sold in 2021 Model 1: 15,000 units - Model 2: 10,000 units - Expected selling Price Model 1: $250 - Model 2: \$200 - Each model requires 5 components (camera, keypad, screen, frame, and motherboard). Model 1 has 2 cameras, while model 2 has only 1 camera. - Component prices are as follows: - Camera: \$15 - Keypads: $10 - Screen: $20 Frame: \$3 - Motherboard: $12 - The company already had a beginning inventory of 3,000 units of each of the above components at a cost of: Camera: $12.50 Keypads: $9 Screen: \$18| Frame: \$2.75 Motherboard: \$11.50 - No ending inventory of any component item or finished goods is required. - Both Mobile models need 5.5 hours of labor at a cost of $5.00 per hour. - Overhead is allocated at a rate of \$15 per direct labor hour. Required: - Prepare the following: Sales Budget Component Budget Direct Labor Budget An overhead Budget - Prepare a budgeted partial income statement till "Gross Profit Line" Price Total Sales Direct Materials Budget: Model 1 Model 2 Unit Sales Required ending inventory Total production requirements Direct Materials Required per Model Cameras Keyboard Screen Farm Motherboard Total Direct Materials Required per Model Model 1 Model 2 Total Cameras Keyboard Screen Farm Motherboard Current beginning Inventory: Quantity Cost Total Cameras Keyboard Screen Farm Motherboard Required New Purchases of Raw Materials Quantity Cost Total Cameras Keyboard Screen Farm Motherboard Total Direct Materials Cost Direct Labor Budget Model 1 Model 2 Unit Sales Required ending inventory Total production requirements Labor hours required per model Total Cost per hour Total hours required per model Total Direct Labor Cost Overhead Budget Overhead rate per labor hour Total hours required per model Total overhead cost Budgeted Income Statement For the year 2021 Total Sales Cost of Goods Sold: Direct Materials Direct Labor Overhead Total COGS Gross Profit