Problems P13-1 Salas, producten, direct material purchases, and din Iaber cost 3. Total direct materiale purchases $7.721,394 The budget director of Regal 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 August 2010 is summarized as follows: a. Estimated sales of King and Prince chairs for August by sales territory: Northern Domestic: King 5,500 units at $750 per unit Prince 6,900 units at $S20 per unit Southern Domestic: King 3,200 units at $690 per unit Prince 4,000 units at $580 per unit International: King 1.450 units at $780 per unit 900 units at 5600 per unit Prince b. Estimated inventories at August 1: Direct materials: Fabric 4,500 sq yds Wood 6,000 lineal ft Filler 2.800 cu. ft. Finished products: King Prince 950 units 280 units c. Desired inventories at August 31: Direct materials: Finished products: Fabric 4,300 sq yds. King Wood 6,200 lineal ft. Prince Filler 3,100 cu. ft. Springs ...... 7,500 units + .. 800 units 400 units . d. Direct materials used in production: In manufacture of King: Fabric 5.0 sq yds. per unit of product Wood 35 lineal ft. per unit of product Filler 3.8 cu. ft. per unit of product Springs 14 units per unit of product In manufacture of Prince: Fabric 3.5 sq yds. per unit of product Wood 25 lineal ft. per unit of product Filler 3.2 cu. ft. per unit of product Springs 10 units per unit of product e. Anticipated purchase price for direct materials: Fabric $12.00 per sq.yd. Filler $3.50 per cu. ft. Wood 8.00 per lineal ft. Springs 4.50 per unit f. Direct labor requirements: - H King: Framing Department....... 2.5 hrs. at $12 per hr. Cutting Department 1.5 hrs. at $11 per hr. Upholstery Department. 2.4 hrs. at $14 per hr. Prince: Framing Department 1.8 hrs. at $12 per hr. Cutting Department 0.5 hrs. at $11 per hr. Upholstery Department 2.0 hrs. at $14 per hr. .... Instructions 1. Prepare a sales budget for August. 2. Prepare a production budget for August. 3. Prepare a direct materials purchases budget for August. 4. Prepare a direct labor cost budget for August