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Each desk-and-chair set requires 13 board feet of pine planks and 16 hours of direct labor. Each set sells for $60. 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 $24 per hour for direct-abor 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 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Sales budget: Sales in sets) Sales price per set Sales revenue April 15,000 60 900,000 $ $ May June 17.000 20.000 S 60S 60 $ 1.020,000 $ 1.200.000 Report Required 2 > Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Production budget (n sets): Sales Add: Desired ending inventory Total requirements Less: Projected beginning inventory Planned production April 15,000 3,400 18,400 3,000 15.400 May 17.000 34.000 51,000 (3.400) 47,600 June 20.000 4,000 24.000 (4,000) 20,000 Required 1 Required 2 Required 3 Required 4 Raw-material purchases: (Round "Cost per board foot" to 2 decimal places.) April 15,400 13 200 200 22.880 May 17,600 13 228,800 June 16,000 X 13 208,000 27,000 20,800 x 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 feat (10% of next month's requirement) Total requirements Less Projected beginning inventory of raw material, in board feet (10% of current month's requirement) Planned purchases of raw material (board feet) Cost por board foot Planned purchases of raw material (dollars) 223,080 249,600 235.000 20,020 249.600 208.000 X 0 203,060 0.50 $ s 27.000 0.50 0.50 $ $ 101,530 $ 0 $ 13,500 your answers in the tabs below. Required: Required 2 Required 3 Required 4 Direct-labor budget: (Do not round intermediate values. Round Direct labor hours per set to 1 decimal place.) Planned production (sets) Direct-labor hours per set Direct-labor hours required Cost per hour Planned direct labor cost April 15,400 1.6 24,640 24 591,360 May 17,600 1.6 28. 160 24s 675,840 June 16,000 16 25 600 24 614.400 $ $ $ $