With Excel formula ??

11 Accessibility tab sur Accessibility tab sur eather purses. Each pul pound and 0.8 direct la d at a rate of $2 per dit th. The company's poli 40% of the next month had 3,680 pounds of direct materials in inventory. The t reports the following. For an answer to be graded as correct, you must use an Excel formula: 1. Begin each formula with an = sign. 2. Reference cells, instead of entering values. Example: =B3+C3 udent presentation McGraw Hill budgets for September and October. gets for September and October. budgets for September and October. MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.8 direct labor hours at a rate of $16 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $10,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,680 pounds of direct materials in inventory. The company's production budget reports the following (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October