9-411 of Budget Scholastic Furniture, Inc. manufactures a variety of desks, chairs, tables, and shelf units which a to public school systems throughout the Midwest. The controller of the company's Desk Devi rently preparing a budget for the second quarter of the year. The following sales forecast has been by the division's sales manager. April May Ane 10.000 dekand-chair sets 12.000 dekand-char sets 15.000 desk-and-chair sets Each desk-and-chair set requires 10 board feet of pine planks and 15 hours of direct labor Each for $50 Pine planks cost $.50 per board foot, and the division ends each month with enough w cover 10 percent of the next month's production requirements. The division incurs a cost of $26 hoor for direct-labor wages and fringe benefits. The division ends each month with enough fier goods inventory to cover 20 percent of the next month's sales Required Complete the following budget schedules. 1. Sales budget Sales in arts April 10.000 x$50 Sales price per set $500 000 Sales revenue 2. Production budget (in s April June 10,000 Salt At Desired ending inventory. 2,400 3.000 Total requirements 12,400 Less: Projected beginning inventory 2.000 Planned production 10,400 3. Raw-material purchases April Planned production (se 10,400 x10 Raw material required per set board feet).. Raw material required for production 104,000 Board feet Add: Desired ending inventory of raw material in board foet (10% of next months requirement. 12,600 16.000 Total requirements 116,600 Lets Projected beginning inventory of raw material in board feet 10% of ou men's requirement 10,400 Planned purchases of raw material 106.200 board feed Cost per board foot x $50 Planned purchases of raw material (dollars) $ 53.100 4. Direct-labor budget April May Planned production (set) 10.400 Direct labor hours per set x15 Direct labor tours required: 15,600 Cost per hour x$20 Planned direct labor cost $312.000 1