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Your report will include a Word document and an Excel Spreadsheet.Homework Excel 8.xlsx Download Homework Excel 8.xlsx Develop a table using the information provided in Attachment 1 below (do not forget to add columns for rent and insurance).Utilize cell arithmetic or formulas.Calculate the following:Provide totals for each expense category (e.g., salary) and for each monthAverage of the actual expenses incurred for each expense’s category for months included in spreadsheet.Estimate to Complete (ETC). This is the amount you are forecasting will be spent for each of the expense categories for the remainder of the year. (Use the monthly average times the number of remaining months except for the insurance and rent payments)Estimate at Completion (EAC) – total actual expenses plus the ETC from b) above.Difference between your EAC for each expense category and the total budget (attachment 1, see given budget for each area). Are you over or under budget? Format accordingly.Generate a pie chart indicating how the budget has been allocated showing each category (e.g., Salary, Supplies, etc.). Chart Title as “Budget Allocation”.Data Labels as a percentage and including the category name.Generate a report to your supervisor indicating your findings. Include the following:Introduction explaining why you have decided to perform this analysis.Methodology utilized.Findings of your analysis. Develop a single table that shows all calculations. Provide a narrative of the significant differences between the budget and EAC.Recommendations Suggest a course of action that should be taken in order to ensure that the established budget is not exceededWhat to Turn In?Your written report to your supervisor with charts embedded into the text to support your findings.Your spreadsheet file.The grade will be based on completion of the requirements stated above and your recommendation to meet the organizational goal of not exceeding your budget.Both files (word doc and excel doc)  must have your name in the filename (ex: Jacobs Tool 1) and be submitted as indicated in the course schedule.Choose a submission type