2. Production budget (in sets): Sales Add: Desired ending invento Total requirements Less: Projected beginning Planned production 3. Raw-material purchases: Scholastic Furniture, Inc, manufactures a variety of desks, chairs, tables, and shelf units that are sold to publie school systems throughout the Midwest. The controller of the compary's Desk Division is currently preparing a budget for the second quarter of the year. The following sales forecast has been made by the division's sales manager. Each desk-and-chair set requires 10 board feet of pine planks and 1.5 hours of direet labor. Each set sells for $50. Pine planks cost $.50 per board foot, and the division ends each month with enough wood to cover 10 percent of the next month's production requirements. The division incurs a cost of $20 per hour for direet-labor wages and fringe benefits. The division ends each month with enough finishedgoods inventory to cover 20 percent of the next month's sales. Required: Complete the following budget schedules. 1. Sales budget: 4. Direct-labor budget: 5. Build a spreadsheer: Construct an Excel spreadsheet to solve all of the preceding requirements. Show how the solution will change if the following information changes: each set sells for $55 and the direct-abor cost per hour is \$21. Empire Polymer Development produces three products using three different continuous processes. The products are Yarex. Darol, and Norex. Projected sales in gallons for the three produets for the years 202 and 203 are as follows