Solved by verified expert :This case is intended to help students in a graduate cost managerial accounting course gain an in-depth knowledge of budgeting by developing and using a multi-product, multi-period master budget. The case consists of two segments that can be used in conjunction or separately. The first segment allows students to create a master budget. The second segment allows students to use their budgets to make recommendations for improving company performance. The use of multiple products and introduction of incentives to improve company performance add a degree of complexity above that found in most budgeting problems. Working on this type of case provides you with a greater understanding of both the flexibility of a master budget and of the information such a budget can provide to decision-makers.This assignment is to be submitted using an Excel XLS or XLSX workbook. Each budget schedule is to be contained on a separate spreadsheet tab. You are to utilize the power of Excel for totaling and referencing amounts contained in other spreadsheets. Create a “Basic” spreadsheet for your assumptions and raw data which will be used in the other budget spreadsheets. Use Excel referencing to look at these raw data figures.Examples of portions of this assignment are included in Chapter 9 of the text book. You should review that chapter and complete the homework prior to beginning work on this case. Further, complete the Excel Review assignment included in Week One.The following budget spreadsheets are to be included: Sales, Collections, Production, and Direct Materials.Your grade is based upon the accuracy and formatting of each spreadsheet, 20 points each. The use of the power of Excel is critical to a master budget such as this and, therefore, 20 points will be awarded for the creation of an Assumptions spreadsheet and references to those assumptions by the other spreadsheets. The last 10 points is reserved for overall impression.A draft of this assignment is due by Monday of the third week by 11:59 PM Pacific Time. Upload your Excel workbook to the via the Draft Signature Assignment link in Week 3. The instructor will review your draft budget and provide feedback. While the draft will not be graded, the feedback will have a positive impact on your project grade. Use the following file name format: Lastname, Firstname.Submittal of the final version of this assignment is due on Friday of the fourth week by 11:59 PM Pacific Time. Upload your Excel workbook to the Final Signature Assignment link in Week 4. Use the following file name format: Lastname, Firstname.****NOTE****** DUE DATE IS Friday Dec 19th but I NEED A DRAFT TO TURN IN FOR THE FIRST DRAFT ON TUESDAY DEC 9th 10 AM.*************************
