Sales, Production, Direct Materials Purchases, and Direct Labor Cost Budgets 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: c. Desired inventories at February 28: e. Anticipated purchase price for direct materials: Required: 1. Prepare a sales budget for February. 1. Prepare a sales budget for February. 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