Production and related schedules Goldstein Inc. manufactures and sells plastic boxes and trays. Sales are projected to be evenly spread over the annual period. Estimated product sales and material needs for each unit of product follow. Boxes Annual Sales Trays 67,200 48,000 Material A 2.0 pounds 1.0 pound Material B 1.5 pounds 0.8 pound 0.3 hour 0.2 hour Direct Labor Overhead is applied at a rate of $1.60 per direct labor hour. Expected Beg. Inv Desired End. Inv. Material A (pounds) 2,848 2,400 Material B (pounds) 8,000 2.240 Boxes (units) 1,920 2,880 1,280 1,040 Trays (units) Material A costs $0.05 per pound, and Material B costs $0.07 per pound. Prepare the following information: a. Production schedule by product. Note: Use a negative sign in your schedule to indicate that an amount is subtracted. Production budget Boxes Trays Units of sales 67,200 48,000 Units desired in ending inv. 2,880 1,040 Units needed 64,320 x 46,960 x Units in beginning inv. (1,920) (1,280) Budgeted production 62.400 x 45.680 x b. Purchases budget in units by raw material, in total, and in dollars. Note: Round your final answers to the nearest whole dollar. Material purchases: Material A Material B Total C. Pounds 62,400 x $ Dollars 45.680 x 2 x S S 45,680 Direct labor budget in hours by product, in total, and in dollars. The average direct labor wage rate is $9.50 per hour. Direct labor budget Required DL hours: Boxes Trays Total DLHs 12,780 x 5,970 x 18,750 x Average DL wage rate $ Total DL cost $ 9.5 178,125 x d. Overhead to be charged to production by product and in total. Boxes Trays Total Activity base (DLHs) 12,780 x Multiplied by OH rate $ 1.6 $ 5,970 x 1.6 Overhead applied 20,448 x $ 9,552 x $ 30,000 x