School Days Furniture, Inc., manufactures a variety of desks, chairs, tables, and shelf units which are sold to public school systems throughout the midwest. The controller of the companys Desk Division is currently preparing a budget for the third quarter of the year. The following sales forecast has been made by the divisions sales manager. July 5,000 desk-and-chair sets August 6,000 desk-and-chair sets September 7,500 desk-and-chair sets Each desk-and-chair set requires 10 board feet of pine planks and 1.5 hours of direct labor. Each set sells for $60. Pine planks cost $0.60 per board foot, and the division ends each month with enough wood to cover 10 percent of the next months production requirements. The division incurs a cost of $21.00 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 months sales. Required: Complete the following budget schedules. 1. Sales budget: 2. Production budget (in sets): 3. Raw material purchases: 4. Direct-labor budget: