Scholastic Furniture, Inc. manufactures a variety of desks, chairs, tables, and shelf units that are sold to public school systems throughout the Midwest. The controller of the companys Desk Division is currently preparing a budget for the second quarter of the year. The following sales forecast has been made by the divisions sales manager.

throughout the Midwest. The controller of the company's Desk Division is currently preparing a budget for the second quarter of the year. The following sales forecast has been made by the division's sales manager. April May June 11,500 desk-and-chair sets 13,500 desk-and-chair sets 16,500 desk-and-chair sets Each desk-and-chair set requires 12 board feet of pine planks and 1.2 hours of direct labor. Each set sells for $60. Pine planks cost $.50 per board foot, and the division ends each month with enough wood to cover 10 percent of the next month's production requirements. The division incurs a cost of $24 per hour for direct-labor wages and fringe benefits. The division ends each month with enough finished-goods inventory to cover 20 percent of the next month's sales. Required: Complete the following budget schedules. 1. Sales budget. 2. Production budget (in sets). 3. Raw-material purchases. 4. Direct-labor budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Sales budget: May June April 11,500 Sales (in sets) Sales price per set $ 60 Sales revenue $ 690,000 $ 0 $ 0 April May June 11,500 desk-and-chair sets 13,500 desk-and-chair sets 16,500 desk-and-chair sets Each desk-and-chair set requires 12 board feet of pine planks and 1.2 hours of direct labor. Each set sells for $60. Pine planks cost $.50 per board foot, and the division ends each month with enough wood to cover 10 percent of the next month's production requirements. The division incurs a cost of $24 per hour for direct-labor wages and fringe benefits. The division ends each month with enough finished-goods inventory to cover 20 percent of the next month's sales. Required: Complete the following budget schedules. 1. Sales budget. 2. Production budget (in sets). 3. Raw-material purchases. 4. Direct-labor budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Production budget (In sets): May June Sales April 11,500 2,700 14,200 2,300 11,900 3,300 3,300 Add: Desired ending inventory Total requirements Less: Projected beginning inventory Planned production 0 0 3,300 Required: Complete the following budget schedules. 1. Sales budget 2. Production budget (in sets). 3. Raw-material purchases. 4. Direct-labor budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Raw-material purchases: (Round "Cost per board foot" to 2 decimal places.) May June April 11,900 12 142,800 0 0 16,920 20,000 Planned production (sets) Raw material required per set (board feet) Raw material required for production (board feet) Add: Desired ending inventory of raw material, in board feet (10% of next month's requirement) Total requirements Less: Projected beginning inventory of raw material, in board feet (10% of current month's requirement) Planned purchases of raw material (board feet) Cost per board foot 159,720 0 20.000 14,280 0 20,000 145,440 0.50 $ Planned purchases of raw material (dollars) $ 72,720 $ 0 $ 0 Required: Complete the following budget schedules. 1. Sales budget. 2. Production budget (in sets). 3. Raw-material purchases. 4. Direct-labor budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Direct-labor budget: (Do not round intermediate values. Round "Direct labor hours per set" to 1 decimal place.) May June April 11,900 1.2 Planned production (sets) Direct-labor hours per set Direct-labor hours required Cost per hour Planned direct-labor cost 14,280 0 0 $ 24 342,720 $ $ 0 $ 0