The facts for this problem are presented on the Facts tab of this workbook. Instructions-Your solutions should be clearly labeled on the Solutions tab of this workbook. For the first quarter of 2017, do the following. (a) Prepare a sales budget. This is similar to ilustration 21-3 on page 1088 of your textbook. (b) Prepare a production budget. This is similar to llustration 21-5 on page 1089 of your textbook. c) Prepare a direct materials budget. (Round to nearest dollar) This is similar to lustration 21-7 on page 1091 of your textbook. (d) Prepare a direct labor budget. (For calculations, round to the nearest hour.) This is similar to lustration 21-9 on page 1094 of your textbook. (e) Prepare a manufacturing overhead budget. (Round intermediate amounts to the nearest dollar.) This is similar to lustration 21-10 on page 1094 of your textbook. (0 Prepare a selling and administrative budget. Thisis similar to Wustration 21-11 on page 1095 of yourtextbook. (e) Prepare a budgeted income statement. (Round intermediate calculations to the nearest dollar.) This is similar to llustration 21-13 on page 1096 of your textbook (h) Prepare a cash budget. This is similar to lmustration 21-17 on page 1100 of your textbook. (You will need to prepare schedules for expected collections from customers and expected payments to vendors first. See Iustrations 21-15 and 21-16 on page 1099 of your textbook for guidance.) Rules: Use Excel's functionality to your benefit. Points are lost for lack of formula Use proper formats for schedules, following the referenced textbook examples. Use dollar-signs and underscores where appropriate. Double-check your work! Verify your formula and logic! Grading Guidelines Effective Use of Excel Facts, Logic Completeness Spelling, Punctuation, Value Format 40% 20% 30% 10%