Please answer the excel blanks showing excel formulas. Thank you!

This pertains to the company's budgeting process for the 4th quarter of 2023.

2. Prepare a master budget for the quarter ended December 31,2023 that includes: Finished Goods Inventory Cost per Unit, Sales Budget, Schedule of Expected Cash Collections, Production Budget, Raw Materials Purchases Budget, Direct Labor Budget, Manufacturing Overhead Budget, Selling \& Administrative Expense Budget, Cash Budget, Budgeted Income Statement, & Budgeted Balance Sheet (a total of 11 schedules). Each schedule should be on a separate worksheet as appears in your template. There is a template provided to you in the assignments link in the Excel Project folder with an input page you MUST use. Complete the shaded areas of the template only. All of your spreadsheets must be formula driven from the input tab! This means that EVERY cell should contain either a value referenced from the input worksheet or a formula manually entered into the cell using the referenced values or the input values. You should NOT type a number the entire time you are working on this project. Any typed out numbers will cost you 2 points per instance. You will receive a zero grade for a submission that contains no formulas. There is a purpose to this requirement that we hope you understand. The beauty (usefulness) of linking your spreadsheets to an inputs page is when something changes, such as the cost per unit of raw materials, you don't have to go through the entire budget to fix every cell that used that value. Instead, when you change it on the inputs tab, it will automatically change every cell which used that value within your entire budget. This becomes even more useful as your spreadsheets become more complex. 3. Complete the Goal Seek tab. Simplistic Scents Candle Co. is looking to expand their business into a brick \& mortar space in early 2024 . This will require $300,000 of capital to get off the ground so the company is aiming to have a cash balance at the end of 2023 of $400,000. The company's owners think they will be able to generate this extra cash by applying a slight price increase for their candles. Use Goal Seek to determine the selling price needed to generate this additional cash through the 4th quarter. HINT: To find goal seek, click on the Data tab and under Forecast click on the What-If Analysis. When you type your info into the template this provides, you want to do the following: Set cell: click on the ending cash balance cell in the TOTAL column in the cash budget To value: $400,000 By changing cell: click on the $11.50 sales price cell in the inputs tab Click ' OK ' and this function will work through the math within your file to calculate the sales price needed to reach this goal. If you have formula driven everything correctly, you should be able to click back to the inputs tab and see the new sales price listed in replacement of $12.81 (answer is provided in the rubric at the end of this document as a check figure) A B C D E Simplistic Scents Candle Co. Balance Sheet As of September 30,2023 Finished Goods Inventory Cost per Unit \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|l|}{ Direct Material } & Per Unit \\ \hline 4 & Direct Labor & \\ \hline 6 & Variable Overhead & \\ \hline 7 & TOTAL FG INVENTORY COST PER UNIT & \\ \hline \end{tabular} Note: Computing the cost of a unit of inventory will be useful later on when you have to do a budgeted income statement \& budgeted balance Schedule of Expected Cash Collections \begin{tabular}{|l|l|l|l|l} \hline 3 & & \multicolumn{2}{|c|}{2023} \\ \hline 4 & October & November & December & TOTAL \\ \hline 5 & Cash from Current Month & & & \\ \hline 6 Cash from Prior Month & & & \\ \hline 7 & TotAL CASH COLLECTIONS & & & \\ \hline \end{tabular} Note: The amounts for January \& February are necessary in order to complete December on this budget and for the Raw Materials Budget. Raw Materials Purchases Budget \begin{tabular}{|l|l|l|l|l|l|l|} \hline & October & November & December & TOTAL & January \\ \hline 5 Units Produced & & & & & \\ \hline 6. Ounces of RM Required Per Unit of FG & & & & \\ 7. Total Ounces Used in Production & & & & \\ \hline 8 Plus: Desired Ounces in Ending Inventory & & & \\ \hline 9. Total Ounces Required & & & \\ \hline 10 Less: Ounces in Beginning Inventory & & & \\ \hline 11 RAW MATERIALS PURCHASES (OUNCES) & & & \\ \hline 12 Cost per Ounce & & & \\ \hline 13 RAW MATERIALS PURCHASES (COST) & & & \\ \hline \end{tabular} Direct Labor Budget A B C D E 1 Selling \& Administrative Expense Budget A Cash Budget Simplistic Scents Candle Co. Budgeted Balance Sheet As of December, 2023 ASSETS LIABILITIES \& EQUITIES Cash Accounts Payable Accounts Receivable Note Payable Interest Payable Finished Goods Inventory TOTAL LIABILITIES Retained Earnings TOTAL EQUITIES TOTAL ASSETS TOTAL LIABILITIES \& EQUITIES 2. Prepare a master budget for the quarter ended December 31,2023 that includes: Finished Goods Inventory Cost per Unit, Sales Budget, Schedule of Expected Cash Collections, Production Budget, Raw Materials Purchases Budget, Direct Labor Budget, Manufacturing Overhead Budget, Selling \& Administrative Expense Budget, Cash Budget, Budgeted Income Statement, & Budgeted Balance Sheet (a total of 11 schedules). Each schedule should be on a separate worksheet as appears in your template. There is a template provided to you in the assignments link in the Excel Project folder with an input page you MUST use. Complete the shaded areas of the template only. All of your spreadsheets must be formula driven from the input tab! This means that EVERY cell should contain either a value referenced from the input worksheet or a formula manually entered into the cell using the referenced values or the input values. You should NOT type a number the entire time you are working on this project. Any typed out numbers will cost you 2 points per instance. You will receive a zero grade for a submission that contains no formulas. There is a purpose to this requirement that we hope you understand. The beauty (usefulness) of linking your spreadsheets to an inputs page is when something changes, such as the cost per unit of raw materials, you don't have to go through the entire budget to fix every cell that used that value. Instead, when you change it on the inputs tab, it will automatically change every cell which used that value within your entire budget. This becomes even more useful as your spreadsheets become more complex. 3. Complete the Goal Seek tab. Simplistic Scents Candle Co. is looking to expand their business into a brick \& mortar space in early 2024 . This will require $300,000 of capital to get off the ground so the company is aiming to have a cash balance at the end of 2023 of $400,000. The company's owners think they will be able to generate this extra cash by applying a slight price increase for their candles. Use Goal Seek to determine the selling price needed to generate this additional cash through the 4th quarter. HINT: To find goal seek, click on the Data tab and under Forecast click on the What-If Analysis. When you type your info into the template this provides, you want to do the following: Set cell: click on the ending cash balance cell in the TOTAL column in the cash budget To value: $400,000 By changing cell: click on the $11.50 sales price cell in the inputs tab Click ' OK ' and this function will work through the math within your file to calculate the sales price needed to reach this goal. If you have formula driven everything correctly, you should be able to click back to the inputs tab and see the new sales price listed in replacement of $12.81 (answer is provided in the rubric at the end of this document as a check figure) A B C D E Simplistic Scents Candle Co. Balance Sheet As of September 30,2023 Finished Goods Inventory Cost per Unit \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|l|}{ Direct Material } & Per Unit \\ \hline 4 & Direct Labor & \\ \hline 6 & Variable Overhead & \\ \hline 7 & TOTAL FG INVENTORY COST PER UNIT & \\ \hline \end{tabular} Note: Computing the cost of a unit of inventory will be useful later on when you have to do a budgeted income statement \& budgeted balance Schedule of Expected Cash Collections \begin{tabular}{|l|l|l|l|l} \hline 3 & & \multicolumn{2}{|c|}{2023} \\ \hline 4 & October & November & December & TOTAL \\ \hline 5 & Cash from Current Month & & & \\ \hline 6 Cash from Prior Month & & & \\ \hline 7 & TotAL CASH COLLECTIONS & & & \\ \hline \end{tabular} Note: The amounts for January \& February are necessary in order to complete December on this budget and for the Raw Materials Budget. Raw Materials Purchases Budget \begin{tabular}{|l|l|l|l|l|l|l|} \hline & October & November & December & TOTAL & January \\ \hline 5 Units Produced & & & & & \\ \hline 6. Ounces of RM Required Per Unit of FG & & & & \\ 7. Total Ounces Used in Production & & & & \\ \hline 8 Plus: Desired Ounces in Ending Inventory & & & \\ \hline 9. Total Ounces Required & & & \\ \hline 10 Less: Ounces in Beginning Inventory & & & \\ \hline 11 RAW MATERIALS PURCHASES (OUNCES) & & & \\ \hline 12 Cost per Ounce & & & \\ \hline 13 RAW MATERIALS PURCHASES (COST) & & & \\ \hline \end{tabular} Direct Labor Budget A B C D E 1 Selling \& Administrative Expense Budget A Cash Budget Simplistic Scents Candle Co. Budgeted Balance Sheet As of December, 2023 ASSETS LIABILITIES \& EQUITIES Cash Accounts Payable Accounts Receivable Note Payable Interest Payable Finished Goods Inventory TOTAL LIABILITIES Retained Earnings TOTAL EQUITIES TOTAL ASSETS TOTAL LIABILITIES \& EQUITIES