2. Prepare a production budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Prepare a direct labor cost budget for February. Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets The budget director of Royal Furniture Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected information concerning sales and production for February is summarized as follows: a. Estimated sales of King and Prince chairs for February by sales territory: Northern Domestic: King 610 units at $780 per unit Prince 750 units at $550 per unit Southern Domestic: King 340 units at $780 per unit Prince 440 units at $550 per unit International: King 360 units at $850 per unit Prince 290 units at $600 per unit b. Estimated inventories at February 1: Direct materials: 3. Prepare a direct materials purchases budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{RoyalFurnitureCompanySalesBudgetFortheMonthEndingFebruary28} \\ \hline Product and Area & UnitSalesVolume & UnitSellingPrice & Total Sales \\ \hline \multicolumn{4}{|l|}{ King: } \\ \hline Northern Domestic & & $ & $ \\ \hline \multicolumn{4}{|l|}{ Southern Domestic } \\ \hline \multicolumn{4}{|l|}{ International } \\ \hline Total & & & $ \\ \hline \multicolumn{4}{|l|}{ Prince: } \\ \hline Northern Domestic & & $ & $ \\ \hline \multicolumn{4}{|l|}{ Southern Domestic } \\ \hline \multicolumn{4}{|l|}{ International } \\ \hline Total & & & $ \\ \hline Total revenue from sales & & & $ \\ \hline \end{tabular} c. Desired inventories at February 28: Direct materials: d. Direct materials used in production: In manufacture of King: Springs 12 units per unit of product e. Anticipated purchase price for direct materials: f. Direct labor requirements: King: Framing Department Cutting Department Upholstery Department Prince: Framing Department Cutting Department Upholstery Department 1.2 hrs. at $12 per hr. 0.5hr. at $14 per hr. 0.8hr. at $15 per hr. 1.0hr. at $12 per hr. 0.4hr. at $14 per hr. 0.6hr. at $15 per hr