C6 7 The facts for this problem are presented on the Facts tab of this workbook. 8 Instructions-Your solutions should be clearly labeled on the Solutions tab of this workbook. 10 For the first quarter of 2017, do the following 11 (a) Prepare a sales budget. This is similar to Iustration 21-3 on page 1088 of your textbook 12 (b) Prepare a production budget. This is similar to ilustration 21-5 on page 1089 of your textbook. 13 (c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to Iilustration 21-7 on page 1091 of your textbook. 14 (d) Prepare a direct labor budget. (For calculations, round to the nearest hour.) This is similar to ilustration 21-9 on page 1094 of your textbook. 15 (e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dollar.) This is similar to illustration 21-10 on page 1094 of your textbook. 16 (f) Prepare a selling and administrative budget. This is similar to iustration 21-11 on page 1095 of your textbook. 17 (g) Prepare a budgeted income statement. Round intermediate calculations to the nearest dollar.) This is similar to illustration 21-13 on page 1096 of your textbook. 18 (h) Prepare a cash budget. This is similar to lilustration 21-17on page 1100 of your textbook. 19 You will need to prepare schedules for expected collections from customers and expected payments to vendors first. See lIlustrations 21-15 and 21-16 on page 1099 of your textbook for guidance.) 20 21 Rules: 22 Use Excel's functionality to your benefit.Points are lost for lack of formula 23 Use proper formats for schedules, following the referenced textbook examples 24 Use dollar-signs and underscores where appropriate 25 Double-check your work! Verify your formula and logic