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The Worden Corporation manufactures and sells three products, Fantastic, Good, and Okay. In October 2023, Worden's Budget Department gathered the following data in order to prepare budgets for 2024 : The followine direct materials are expected to be used in the three products: Proiected direct manufacturing labor requirements and rates for 2024 are as follows: Manufacturing overhead is allocated at the rate of $13 per direct manufacturing labor-hour. Required: Based on the preceding projections and budget requirements for Fantastic, Good, and Okay, prepare the following components budgets for Worden for 2024. Show breakups where appropriate. Combme results for all. thrse pereducts to get the total for the compaw. when appropriate. 1 Revenues budget (in dollars) 2. Production budget (in units) 3. Direct materials purchases budget (in quantities) 4 Direct materials purchases budget (in dollars) 5. Direct manufacturng labor budget (in dollars) 6. Manufacturing overhead budget (in dollars) 7. For each product, calculate the standard budgeted cost per unit for DM, DL, MOH, and the Total Cost 8. Budgeted Finshed Goods ending inventory (in dollars). Do this by using the Total Budgeted Cost Per Unit 9. Cost of Goods Sold budget (in dollars). Use the Total Budgeted Cost Per Unit to calculate this budget. Instructions: This computer assignment is to prepare the basies (excluding the financial statements) of a Master Budget for the company. This Master Budget is to be submitted to both the President and the Board of Directors of the company. It should both be easy to read follow and have a professional appearance. Budgets are flexible and fluid and may change as managers have access to additional information. If the above. budget is computed manually, and a budgeting change is made to a key number, the entire budget would have to be recomputed. This would be a redundant and time-consuming exercise. Instead, if a spreadsheet template that employs simple formulas is constructed, a budgeting change can be made in a matter of seconds and the answers will be recomputed automatically. This computer assignment must be completed utilizing three sheets within an Evel file. - The first sheet should contain the data-entry section where you will enter the above data. - The second sheet should be the budgeting template where only formulas (linked to the data-entry section from the first sheet) are used when calculating or presenting results. No credit will be given for any answer where any of the numbers involved have just been typed in. I recommend you test your template upon completion, 1.e., change a key number in the data-entry section and see if the numbers in the template recompute correctly - The third sheet should be a "quick answer" sheet that gives a quick synopsas of the budgeting template results: For instance, the Revenues Budget should show a budgeted revenue for each of the three proviucts as well as a total revenues budget for the company. That is, show both the totals of the vubcomponents (i.e, by product, direct material, ete.) and then, if appropriate, the total of these for the company the answers on this sheet should be referenced (1 , from formulas) back to the Budgeting Template So credit will be gren for any answer where any of the numbers imolved are just typed in (te are not referenced). A rubric for this assignment is grven below. Note that following the basic instructions, including using three sheets within an Excel worksheet, using only references when calculating or presenting results, and using proper presentation and formatting, count a total of 50% of the points. The other 50% are allocated to the nine required components of the Master Budget The Worden Corporation manufactures and sells three products, Fantastic, Good, and Okay. In October 2023, Worden's Budget Department gathered the following data in order to prepare budgets for 2024 : The followine direct materials are expected to be used in the three products: Proiected direct manufacturing labor requirements and rates for 2024 are as follows: Manufacturing overhead is allocated at the rate of $13 per direct manufacturing labor-hour. Required: Based on the preceding projections and budget requirements for Fantastic, Good, and Okay, prepare the following components budgets for Worden for 2024. Show breakups where appropriate. Combme results for all. thrse pereducts to get the total for the compaw. when appropriate. 1 Revenues budget (in dollars) 2. Production budget (in units) 3. Direct materials purchases budget (in quantities) 4 Direct materials purchases budget (in dollars) 5. Direct manufacturng labor budget (in dollars) 6. Manufacturing overhead budget (in dollars) 7. For each product, calculate the standard budgeted cost per unit for DM, DL, MOH, and the Total Cost 8. Budgeted Finshed Goods ending inventory (in dollars). Do this by using the Total Budgeted Cost Per Unit 9. Cost of Goods Sold budget (in dollars). Use the Total Budgeted Cost Per Unit to calculate this budget. Instructions: This computer assignment is to prepare the basies (excluding the financial statements) of a Master Budget for the company. This Master Budget is to be submitted to both the President and the Board of Directors of the company. It should both be easy to read follow and have a professional appearance. Budgets are flexible and fluid and may change as managers have access to additional information. If the above. budget is computed manually, and a budgeting change is made to a key number, the entire budget would have to be recomputed. This would be a redundant and time-consuming exercise. Instead, if a spreadsheet template that employs simple formulas is constructed, a budgeting change can be made in a matter of seconds and the answers will be recomputed automatically. This computer assignment must be completed utilizing three sheets within an Evel file. - The first sheet should contain the data-entry section where you will enter the above data. - The second sheet should be the budgeting template where only formulas (linked to the data-entry section from the first sheet) are used when calculating or presenting results. No credit will be given for any answer where any of the numbers involved have just been typed in. I recommend you test your template upon completion, 1.e., change a key number in the data-entry section and see if the numbers in the template recompute correctly - The third sheet should be a "quick answer" sheet that gives a quick synopsas of the budgeting template results: For instance, the Revenues Budget should show a budgeted revenue for each of the three proviucts as well as a total revenues budget for the company. That is, show both the totals of the vubcomponents (i.e, by product, direct material, ete.) and then, if appropriate, the total of these for the company the answers on this sheet should be referenced (1 , from formulas) back to the Budgeting Template So credit will be gren for any answer where any of the numbers imolved are just typed in (te are not referenced). A rubric for this assignment is grven below. Note that following the basic instructions, including using three sheets within an Excel worksheet, using only references when calculating or presenting results, and using proper presentation and formatting, count a total of 50% of the points. The other 50% are allocated to the nine required components of the Master Budget

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