You have just been hired into a management position which requires the application of your budgeting skills. You have contacted various areas on the organization and have accumulated the information below to assist you in preparing a comprehensive budget.

Please see requirement #1-9 below.

3 You need to use cell references in the development of your budgets on the Budget Solution worksheet using information on this worksheet to reference. 5 You should use this worksheet as your data field and only use cell references and formulas in your budgets. 6 Your grade will be based on accuracy of your solution and corect usage of excel. The budget worksheet has formatted budgets for you to complete. 7 The beauty behind excel is that managers can perform what-if analysis just by changing the data, so you do not need to retype the budgets if you 8 have used cell references and formulas throughout. Data Scenario: You have just been hired into a management position which requires the application of your budgeting skills. You find out that budgeting has not been a prority of the company and that they have been experiencing cash shortages. You have contacted various areas on the organization and have accumulated the information below to assist you in preparing a comprehensive budget. If I bolded a line item, that is a header and does not need computation on that rom. 57 1. Prepare Sales Budget in dollars by month and quarter. 2. Prepare a merchandise purchase budget by month and quarter in dollars. 59 3. Prepare a Selling Expense Budget, by month and quarter. 50 4. Prepare a General and Administrative budget, by month and quarter. 51 5. Prepare a cash budget showing the months and quarter. 62 6. Prepare a budgeted income statement for the quarter ending June 30,20X. 66 8. What if the company finds out the monthly rent will increase to $3,500, what budgets are effected? Why? 67 What is the New Net income(Loss) for the quarter? 68 If you have linked everything correctly, you should only have to chanqe the monthly rent 9 on this sheet to determine your answer to the questions asked. Please change the rent back to the original amount before you submit. 70 71 72 73