5. PR. 08.02B 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: King Prince Total Hourly rate Total direct labor cost 3. Prepare a direct materials purchases budget for February. For those boxes in which you must enter subtracted negative numbers use a minus sign. 4. Prepare a direct labor cost budget for February. 2. Prepare a production budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus sign. c. Desired inventories at February 28: Direct materials: Fabric 390 sq. yds. Wood 650 linear ft. Filler 300cu. ft. Springs 540 units Finished products: King 80 units Prince 35 units d. Direct materials used in production: In manufacture of King: Fabric 6.0 sq. yds. per unit of product Wood 38 linear ft. per unit of product Filler 4.2cu. ft. per unit of product Springs 16 units per unit of product In manufacture of Prince: Fabric 4.0 sq. yds. per unit of product Wood 26 linear ft. per unit of product Filler 3.4cu. ft. per unit of product Springs 12 units per unit of product e. Anticipated purchase price for direct materials