Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets information 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 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: 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. c. Desired inventories at February 28: Direct materials: d. Direct materials used in production: In manufacture of King: In manufacture of Prince: Fabric Wood Filler Springs 4.0 sq. yds. per unit of product 26 linear ft. per unit of product 3.4cu. ft. per unit of product 12 units per unit of product e. Anticipated purchase price for direct materials: 4. Prepare a direct labor cost budget for February. Feedback Check My Work produced. Once sales quantities are estimated, the expected sales revenue can be determined. materials to be purchased. Required: 1. Prepare a sales budget for February