Instructions: Set up a data sheet in Excel. From the Data sheet link the information to prepare a sales and purchase budget on a separate sheet. From the Data sheet link the information to prepare a sales and purchase budget on a separate sheet. From the Data sheet link the information to prepare a cash budget on a separate sheet. In total you should have 3 sheets in your Excel Workbook. Label all tabs. Use formulas and cell references. ABC Company sells one product, Product X. Below is information on its activities for the next few months. 1. Sales projections for the coming months are as follows: Estimated Sales (in units) Actual unit sales in May were Actual unit sales in June were 2. Product X sells for $500.00 3. Estimated cash collections from sales of each month are as follows: collected in the month of sale, 11,500 12,000 $500 collected in the month after sale, and cannot be collected. 65% 30% 5% 4. Desired ending inventory is There are 20% 4,000 of the next month's projected sales. units in inventory on June 30, 2xxx 5. Unit Cost for inventory is $225 6. The company pays for inventory purchases as follows: In the month of purchase, and In the month following purchase. 60% 40% 7. Depreciation expense is. $2,500 a month 8. Total variable selling and administrative costs are $75 per unit sold 8. Commissions on sales = 25% of total sales for each month 10. Cash balance as of June 30 $845,000 July August September October 11,400 11,700 11,500 11,100