Hello,
After our discussions I did some research to find an option more in-line with your budget. My proposal is a C# XLL Excel Add-In for the existing spreadsheet that defines a User-Defined Function to communicate with the printer either serially or by TCP/IP depending on your configuration.
From within the spreadsheet, an additional function would be available along the lines of:
IntermecPrint(PrinterName, TemplateLabelFile, "%%FIRSTNAME%%=" & A1, "%%LASTNAME%%=" & B1")
This function would be called by whatever scripting you have setup in the spreadsheet that is currently capturing the scan event and would just handle the data population into the template label file based on the parameters and communication with the printer itself.