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 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 12,500 desk-and-chair sets 14,500 desk-and-chair sets 17,500 desk-and-chair sets Each desk-and-chair set requires 15 board feet of pine planks and 1.3 hours of direct labor. Each set sells for $54. Pine planks cost $.40 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 $20 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: Sales (in sets) Sales price per set Sales revenue April 12,500 54 $ 675,000 $ May 14,500 54 5 783,000 June 17,500 54 945,000 $ $ S Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Production budget in sets): June Sales Add: Desired ending inventory Total requirements Less: Projected beginning inventory Planned production April 12,500 2,900 15,400 2,500 12,900 May 14,500 3,500 18,000 17,500 3,500 21,000 18,000 21,000 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 12,900 15 193,500 22,650 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 27,000 27,000 216,150 19,350 0 27,000 $ $ 196,800 0.40 78,720 Planned purchases of raw material (dollars) $ 0 $ 0 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 pla May June April 12,900 1.3 Planned production (sets) Direct-labor hours per set Direct-labor hours required Cost per hour Planned direct-labor cost 16,770 00 20 $ 335,400 $ 0 $ Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Production budget in sets): June Sales Add: Desired ending inventory Total requirements Less: Projected beginning inventory Planned production April 12,500 2,900 15,400 2,500 12,900 May 14,500 3,500 18,000 17,500 3,500 21,000 18,000 21,000 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 12,900 15 193,500 22,650 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 27,000 27,000 216,150 19,350 0 27,000 $ $ 196,800 0.40 78,720 Planned purchases of raw material (dollars) $ 0 $ 0 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 pla May June April 12,900 1.3 Planned production (sets) Direct-labor hours per set Direct-labor hours required Cost per hour Planned direct-labor cost 16,770 00 20 $ 335,400 $ 0 $
