Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets The budget director of Royal Furniture Company requests estimates of sales, production, and other operating data from the various administrative units every month. Selected infogmation concerning sales 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 250 units at $550 per unit Southern Domestic: King 340 units at $780 per unit Prince 440 units at 3550 per unit Intemational: King 360 units at $850 per unit Prince 290 unts at $600 per unit b. Estimated inventories at February 1: Finished products: c. Desired inventories at February 28: Direct materials: d. Direct materials used in production: In manufacture of King: In manufacture of Prince: In manufacture of Prince: e. Anticipated purchase price for direct materials: f nirort lahnr ronuliramonte. 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. 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 budgetfor February