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 Each desk-and-chair set requires 10 board feet of pine planks and 1.5 hours of direct labor Each set sells for $50. 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 $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. Directlabor budget Sales budget: Complete this question by entering your answers in the tabs below. Production budget (in sets): 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. Raw-material purchases: (Round "Cost per board foot" to 2 decimal places.) Direct-labor budget: (Round "Direct labor hours per set" to 1 decimal place