Preparing an Operating Budget Hardin Fabrications is preparing its master budget for the third quarter. Average sales price of merchandise $220 Average ingots of steel per unit Cost of one steel ingot Direct labor hours per unit Direct labor rate per hour Projected Sales in Units January February March April May June July August September October November December 1,500 1,875 1,750 2,000 1,200 1,900 2,250 2,100 1,650 3,200 1,400 1,900 Variable overhead per unit produced Fixed overhead per year Capacity for the year 25,000 Selling expense per unit sold Fixed administrative expense per year 3.5 $ 17.00 1.5 $ 19.00 Units on hand July 1 Steel ingots on hand July 1 $ 40.00 $ 96,000 % of next month's sales in production ending inventory % of next month's production in materials ending inventory 500 2,083 $18.00 $ 125,000 30% 25% Required: Create the Operating Budget and Budgeted Income Statement for the third quarter. Note: Do not use the ROUND() function. 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect.

please if possible, attach a photo of the excel with formulas, it would be very helpful, thanks!

Preparing an Operating Budget Hardin Fabrications is preparing its master budget for the third quarter. Average sales price of merchandise $220 Capacity for the year 25,000 1 of next month's sales in production ending inventory \begin{tabular}{ll} 1 of next month's production in materials ending inventory & 308 \\ \hline \end{tabular} Units on hand July 1 steel ingots on hand July 12,083 Required: Create the Operating Budget and Budgeted Income Statement for the third quarter. Note: Do not use the ROUND() function. 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect