S13.25 S43.00 Projected Sales Dollars for each product are as follows: Sales Price Per Chair Sales Price Per Table Projected Sales Amounts for each product are as follows: Projected Chairs Sales This Period Projected Tables Sales This Period 105.000 84.000 Estimated and Desired Inventory amounts for each level of inventory for each proc Estimated Beginning Square Feet Wood Inventory Estimated Beginning Square Feet Fabric Inventory Estimated Beginning Square Feet Foam Inventory Estimated Beginning Finished Goods Chairs Inventory Estimated Beginning Finished Goods Tables Inventory Desired Ending Square Feet Wood Inventory Desired Ending Square Feet Fabric Inventory Desired Ending Square Feet Foam Inventory Desired Ending Finished Goods Chairs Inventory Desired Ending Finished Goods Tables Inventory 12,000 16,000 13,000 7,000 8,000 14,000 19,000 17,000 9,000 5,000 Standard Dollar/Rate and Quantity/Time amounts for each material and labor are as Standard Square Feet of Wood Standard Square Feet of Fabric Standard Square Feet of Foam Per Chair 23 5 Wood S0.27 Standard Purchase Price Per Square Foot Chair Standard Minutes To Produce Each Product 20 Standard Worker Hourly Wage $13.00 Actual Dollar and Quantity amounts for Wood and Actual Rate and Time amounts are as follows: Actual Wood Square Feet Needed To Produce Chairs 2.465.000 Actual Price Per Square Foot Of Wood S0.28 Actual Hours Needed To Produce Tables 50.000 Actual Hourly Wages Paid To Produce Tables $19.751 Using what you read in the Information section, please create the following Budget following Variances: 1) Sales Budget 2) Production Budget 3) Direct Materials Purchases Budget 4) Direct Labor Cost Budget 5) Explain why Budgeting is important and why the Operating Budgets need to be 6) Direct Labor Rate & Time Variances 3) Direct Materials Purchases Budget 4) Direct Labor Cost Budget 5) Explain why Budgeting is important and why the Operating Budgets need 6) Direct Labor Rate & Time Variances 7) Direct Materials Price & Quantity Variances 8) Explain how to read your Variances and what your calcuations tell you abo