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 ay 10,000 desk-and-chair sets 12,000 desk-and-chair sets 15,000 desk-and-chair sets June 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. Direct-labor budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Sales budget: April May June Sales (in sets) 10,000 S Sales price per set 50 500,000 Sales revenue Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Production budget (in sets) April May June Sales 10,000 Add: Desired ending inventory 2,400 3,000 Total requirements 12,400 Less: Projected beginning inventory 2,000 Planned production 10,400 > Required 1 Required 3 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.) April May June Planned production (sets) 10,400 Raw material required per set (board feet) 10 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) 104,000 12,600 16,000 116,600 10,400 106,200 0.50 Cost per board foot Planned purchases of raw material (dollars) $ 53,100 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Direct-labor budget: (Round "Direct labor hours per set" to 1 decimal place.) April May June Planned production (sets) 10,400 Direct-labor hours per set 1.5 Direct-labor hours required 15,600 $ Cost per hour 20 $ Planned direct-labor cost 312,000 Required 4 Required 3