Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets and production for 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: c. Desired inventories at February 28: c. Desired inventories at February 28: Direct materials: d. Direct materials used in production: Required: 1. Prepare a sales budget for February. 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. 2. Prepare a production budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus sign. 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