Use Excel and show formulas INSTRUCTIONS 1 Use Microsoft Excel to answer all the questions in this assignment 2. Each question should be on a new sheet in your Excel workbook. Change the name of each sheet to correspond to the question number (Q1a,Q2,etc. 3 The name of the file must be in the following format: Student number EBIAC3A Practical 2022 Calculations in your spreadsheet will be verified (typed in formulas,standard Excel functions,etc.. All mathematical calculations have to be done using Excel-if you type in an answer that should be calculated,you will lose marks. 5. All quantities and values should have comma separators and currency indicators 6. If a value from a previous calculation have to be inserted, do not type the value. QUESTION 1(35 Jay Emm Ltd manufactures and sells only one product. The following information refers to the operations during April 2020 1. Cost per Unit of Product Raw Materials: Material J8kg at R5 per kg Material M6kg at R6 per kg Station 1(7 hrs at R8 per hour) Station 25 hrs at R6 per hour) 9 hours at R5 per hour R40.00 R36.00 R56.00 R30.00 R45.00 R207.00 Direct Labour: Manufaturing Overheads: 2. Raw Material inventory 1 April 2020 8,000kg 4.000 kg 30 April 2020 7,000kg 2,000 kg Material J Material M 3. Production Statistics for April 2020 Finished goods on 1 April Sales in April Finished products on 30 April 500 units 3,000 units at R300 per unit 300 units Required Prepare the following budgets for April 2020 a) Production budget (unit and value) b) Raw Materials Purchases budget (kilogram and value c) Direct labour budget (hours and value) d) Manufacturing overheads (hours and value e) Closing inventories units,kilograms,and value Formatting (currency,thousands indicator,lines etc.) (5) (7) (4) (1) (5 (13) ustrial Accounting 3EBIAC3A ctical Assignment(2022) Page 2 of 4