Project Description: BT6e E9-22A Steps to Perform: Points Step Instructions Possible 1 Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total. 25 (Always use cell references and formulas where appropriate to receive full credit.) a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted. The Master Budget Production Budget Hoffman Foods produces specialty soup sold in jars. The projected sales in dollars and jars for each quarter of the upcoming year are as follows: 1st quarter 2nd quarter 3rd quarter 4th quarter Total sales revenue Number of jars sold $181,000 152,500 $219,000 181,500 $255,000 213,000 $199,000 160,500 Hoffman anticipates selling the following in the first quarter of the year following the year given in the preceding table: Sales in units (jars) Sales revenue 223,000 $260,000 Hoffman has a policy that the ending inventory of jars must be: 30% of the following quarter's sales Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Use cell references from prior calculations, if applicable. Requirement 1 Prepare a production budget for the year that shows the number of jars to be produced each quarter and for the year in total. a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted