Production; purchases; direct labor & OH budgets Atkinson's Reliable Tools makes two products that use similar raw materials #5870 and #253x, Estimated production needs for a unit of each product follow #5870 #253X Steel (in pounds) 3 Wood (in board feet 05 02 Direct labor (in hours) Machine hours 2 3 05 0.7 Estimated sales in units by product for the year are 128,000 of #5870 and 48,000 of #253x Additionally, estimated beginning and desired ending inventory quantities are as follows Beginning Ending 870 units) 1280 1024 #2 1,920 1440 3.200 2,240 1280 960 Steel on pound Wood on board feet) Overhead is applied to production at the rate of $15 per machine hour and the direct labor wage rate is $10.50 per hour Prepare (a) the production schedule by product, (h) the purchases budget in units by rave material, (c) direct labor in hours by product, in total and in delars and it overhead butent by product and in total Note: Use a negative sign in your schedule to indicate that an amount is subtracted. (a) Production schedule by product Production Budget #5470 #253X Units of sales 128,000- 48.000 Units being inventory 1,004- 1280 M 1440 47,520 O