(Click the icon to view the budgets.) Scholastic Learning has decided to revise its budget to show fourth quarter sales of 900 tablets due to the expectation of increased holiday sales. First quarter sales for the following year are expected to be 1,050. The company desires to have an ending Finished Goods Inventory each quarter equal to 40% of the next quarter's sales. Read the requirements. Requirement 1a. Revise the sales budget. More info Direct Materials Budget For the Year Ended December 31, 2019 Scholastic Learning Direct Labor Budget For the Year Ended December 31, 2019 Scholastic Learning Manufacturing Overhead Budget Scholastic Learning Cost of Goods Sold Budget For the Year Ended December 31, 2019 Scholastic Learning Selling and Administrative Expense Budget For the Year Ended December 31, 2019 * Supplies expense is 2% of sales revenue. Requirements 1. Revise the following budgets: a. Sales budget b. Production budget 2. Describe how the following budgets will be affected (without revising the budgets): a. Direct materials budget b. Direct labor budget c. Manufacturing overhead budget d. Cost of goods sold budget e. Selling and administrative expense budget (Click the icon to view the budgets.) Scholastic Learning has decided to revise its budget to show fourth quarter sales of 900 tablets due to the expectation of increased holiday sales. First quarter sales for the following year are expected to be 1,050. The company desires to have an ending Finished Goods Inventory each quarter equal to 40% of the next quarter's sales. Read the requirements. Requirement 1a. Revise the sales budget. More info Direct Materials Budget For the Year Ended December 31, 2019 Scholastic Learning Direct Labor Budget For the Year Ended December 31, 2019 Scholastic Learning Manufacturing Overhead Budget Scholastic Learning Cost of Goods Sold Budget For the Year Ended December 31, 2019 Scholastic Learning Selling and Administrative Expense Budget For the Year Ended December 31, 2019 * Supplies expense is 2% of sales revenue. Requirements 1. Revise the following budgets: a. Sales budget b. Production budget 2. Describe how the following budgets will be affected (without revising the budgets): a. Direct materials budget b. Direct labor budget c. Manufacturing overhead budget d. Cost of goods sold budget e. Selling and administrative expense budget