6 Scholastic Furniture, Inc., manufactures a variety of desks, chales, tables, and shelf units that are sold to public school systems throughout the Midwest. The controller of the company'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 10 points April Nay June 10,000 desk-and-chaiset 12.000 desk-and-chair sets 15.000 desk-and-chair set Book Phim o Each desk-and-chair set requires 10 board feet of pine planks and 15 hours of direct labor. Each set sells for $50. Pine planks cost SO 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 direct labor wages and fringe benefits. The division ends each month with enough finished goods inventory to cover 20 percent of the next month's sales Required: Complete the following budget schedules 1. Sales budget 2. Production budget in sets) 3. Raw-material purchases. 4. Direct labor budget Wences Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Sales budget: May June Sales (in sets) Sales price per set Sales revenue April 10,000 50 500,000 $ $ $ 0 $ Required 2 > 6 Scholastic Furniture, Inc., manufactures a variety of desks, chairs, tables, and shelf units that are sold to public school systems throughout the Midwest. The controller of the company'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 10 points April 10.000 desk-and-chair seta 13.000 desk-and-chair sete 15,000 deak-and-chair sets June Each desk-and-chair set requires 10 board feet of pine planks and 15 hours of direct labor. Each set sells for $50. Pine planks cost $0.50 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 direct labor wages and fringe benefits. The division ends each month with enough finished-goods inventory to cover 20 percent of the next month's sales Required: Complete the following budget schedules 1. Sales budget 2. Production budget (in sets) 3. Raw material purchases. 4. Direct-abor budget References Complete this question by entering your answers in the tabs below. Required 4 Required 1 Reques 2 Required Production budget (in sets) May June Sales Add: Desied ending inventory Total requirements Less: Projected beginning inventory Planned production April 10,000 2.400 12.400 2,000 10,400 3,000 3.000 0 0 3,000 6 Scholastic Furniture, Inc., manufactures a variety of desks, chairs, tables, and shelf units that are sold to public school systems throughout the Midwest. The controller of the company'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 10 no April Ay Tune 10.000 dekand-chair seta 12,000 desk-and-chaise 15.000 desk-and-chair set Each desk-and-chair set requires 10 board feet of pine planks and 15 hours of direct labor Each set sells for $50. Pine planks cost $0.50 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 direct labor wages and fringe benefits. The division ends each month with enough finished goods inventory to cover 20 percent of the next month's sales Required: Complete the following budget schedules. 1. Sales budget 2. Production budget in sets) 3. Row.material purchases. 4. Direct-abor budget. Reces Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required I required Raw-material purchases (Round "Cost per board Foot" to 2 decimal places.) May June April 10,400 10 104,000 12,600 0 0 Planned production (sets) Raw material required per set (board feet) Raw material required for production (board feet) Add: Desired ending inventory of raw material, in board feet (10% of next month's requirement) Total requirements Loss Projected beginning inventory of raw material, in board feet (10% of current month's requirement) Planned purchases of raw material board feet) Cost per board foot Planned purchases of raw material (dollars) 16,000 16,000 116,600 0 10,400 0 16.000 $ $ 106.200 0.50 53,100 $ 0 $ 0 6 Scholastic Furniture, ine manufactures a variety of desks, chairs, tables, and shelf units that are sold to public school systems throughout the Midwest The controller of the company'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 10 po Apel HAY 10,000 deak and chairs 12.000 de-and-charsete 15.000 desk-and-chair sets 1o Each desk-and-chair set requires 10 board feet of pine planks and 1.5 hours of direct labor. Each set sells for $50. Pine planks cost $0.50 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 direct labor wages and fringe benefits. The division ends each month with enough finished-goods inventory to cover 20 percent of the next month's sales Required: Complete the following budget schedules 1. Sales budget 2. Production budget in sets) 3. Raw material purchases 4. Direct labor budget rences Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requiresti Direct-labor budget: (Round Oirect labor hours per set to 1 decimal place.) Apr May June 10400 1.5 15,600 20 312.000 6 0 Planned production (set) Direct-abor hours per set Direct labor hours required Gost per hour Planned direct.labor cost 0 5 5 05 0 (Required 3