Prepare a master budget in Excel for the below and attached: ABC$$s controller, is in charge of preparing the master budget for $20$X$3.$ She has gathered the following information:

$1.$ Sales in the fourth quarter of $20$x$2$ are expected to be $60,000$ S trusses and $70,000$ L trusses. The sales manager predicts that over the next two years, sales in each product line will grow by $5,000$ units each quarter over the previous quarter. For example, S truss sales in the first quarter of $20$x$3$ are expected to be $65,000$ units.

$2.$ ABC$$s sales history indicates that $60$ percent of all sales are on credit, with the remainder of the sales in cash. The company$$s collection experience shows that $80$ percent of the credit sales are collected during the quarter in which the sale is made, while the remaining $20$ percent is collected in the following quarter.

$3.$ The S truss sells for $$12,$ and the L truss sells for $$18.$ These prices are expected to hold constant throughout $20$X$3.$

$4.$ ABC$$s production manager attempts to end each quarter with enough finished goods inventory in each product line to cover $20$ percent of the following quarter$$s sales. Moreover, an attempt is made to end each quarter with $20$ percent of the crates of lumber needed for the following quarter$$s production, with Q$420$X$3$ desired ending inventory being $9,400$ crates. Since metal strips are purchased locally, ABC buys them on a just$-$in$-$time basis; inventory is negligible.

$5.$ All of ABC$$s direct materials purchases are made on account, and $80$ percent of each quarter$$s purchases are paid in cash during the same quarter as the purchase. The other $20$ percent is paid in the next quarter.

Required: Prepare ABC$$s master budget for $20$X$3$ by completing the following schedules and statements using the Excel template provided.

$1.$ Sales budget

$2.$ Cash receipts budget

$3.$ Production budget

$4.$ Direct materials and materials purchase budget

$5.$ Direct labor budget

$6.$ Overhead budget

$7.$ Summary cash budget

$8.$ Budgeted schedule of cost of goods manufactured and sold for the year $20$X$3$

$9.$ Budgeted income statement for $20$X$3$

$10.$ Budgeted statement of retained earnings for $20$X$3$

$11.$ Budgeted balance sheet as of December $31,20$X$3.$