Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets February is summarized as follows: a. Estimated sales of King and Prince chairs for February by sales territory: Northern Domestic: King 610 units at $780 per unit Prince 750 units at $550 per unit Southern Domestic: King 340 units at $780 per unit Prince 440 units at $550 per unit International: King 360 units at $850 per unit Prince 290 units at $600 per unit b. Estimated inventories at February 1: Problem Set: Module 5 Finished products: King 90 units Prince 25 units c. Desired inventories at February 28: Direct materials: FabricWoodFillerSprings390sq.yds.650linearft.300cu.ft.540units Finished products: King 80 units Prince 35 units d. Direct materials used in production: In manufacture of King: Fabric 6.0 sq. yds. per unit of product Wood 38 linear ft. per unit of product Filler 4.2cu. ft. per unit of product Springs 16 units per unit of product In manufacture of Prince: Fabric 4.0 sq. yds. per unit of product d. Direct materials used in production: Problem Set: Module 5 16 units per unit of product Springs FabricWoodFillerSprings4.0sq.yds.perunitofproduct26linearft.perunitofproduct3.4cu.ft.perunitofproduct12unitsperunitofproduct e. Anticipated purchase price for direct materials: FabricWoodFillerSprings$12.00persq.yd.7.00perlinearft.$3.00percu.ft.4.50perunit f. Direct labor requirements: King: Framing Department 1.2 hrs, at $12 per hr. Cutting Department 0.5hr, at $14 per hr. Upholstery Department 0.8 hr. at $15 per hr. Prince: Framing Department 1.0hr, at $12 per hr. Cutting Department 0.4 hr. at $14 per hr. Uoholsterv Dedartment 0.6hr, at $15 per hr. Check My Work Previous Required: 1. Prepare a sales budget for February. 2. Prepare a production budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Problem Set: Module 5 3. Prepare a direct materials purchases budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 4. Prepare a direct labor cost budget for February. 4. Prepare a direct labor cost budget for February