Suppose that the fabric plant has 500 bolts of FB70 in beginning finished goods inven¬

tory. The current year plan is to have 1,000 bolts of FB70 in finished goods inventory at the end of the year. This fabric has an external market price of $400 per bolt. If the fabric plant is set up as a profit center, it could sell 3,000 bolts per year to outside customers and supply 2,000 bolts per year internally to Metcalf's furniture plant. If the fabric plant were designated as a profit center, the plant would transfer all goods in¬
ternally at market price. Using the proposed standard cost sheet (as needed) and any other relevant data, prepare the following for Fabric FB70:

a. Sales budget

b. Production budget

c. Direct labor budget

d. Cost of goods sold budget