The budget director of Royal Furniture Company requests estimates of sales, produ and other operating data from the various administrative units every month. Selec information concerning sales and production for February is summarized as follows a. Estimated sales of King and Prince chairs for February by sales territory: Northern Domestic King 610 units at $780 per unit Prince 750 units at $550 per unit Southern Domestic King 340 units at $780 per unit Prince 440 units at $550 per unit International: King 360 units at $850 per unt Prince 290 units at $600 per unit b. Estimated inventories at February 1: Direct materials: Fabric Wood 420 sq. yds. 580 lineart. 250 cu.ft. Springs Finished products: King Prince 660 units 90 units 25 units c. Desired inventories at February 28: Direct materials: Fabric Wood Fiber Springs Finished products: Prince 390 sq. yds. 650 linear 300 cu.ft. 540 units 35 units d. Direct materials used in production: In manufacture of King: Fabric Wood 6.0 sq. yds. per unit of product 38 linear ft. per unit of product 4.2 cu. ft. per unit of product Springs 16 units per unit of product In manufacture of Prince: 4.0 sq. yds, per unit of product 26 linear ft. per unit of product Fabric Wood Fiber Springs 3.4 cu. ft. per unit of product 12 units per unit of product e. Anticipated purchase price for direct materials: Fabric Wood $12.00 per sq. yd. 7.00 per linear ft. Filler Springs $3.00 per cu.ft. 4.50 per un f. Direct labor requirements: King: Framing Department Cutting Department 1.2 hrs at $12 per hr. 0.5 hr. at $14 per hr. Upholstery Department 0.8 hr. at $15 per hr. Prince: Framing Department 1.0 hr. at $12 per hr. Cutting Department 0.4 hr. at $14 per hr. Upholstery Department 0.6 hr. at $15 per hr. Required: 1. Prepare a sales budget for February. Royal Furniture Company Sales Budget For the Month Ending February 28 King: Northern Domestic Southern Domestic International Total Prince Product and Area Unit Sales Volume Unit Selling Price Total Sales Northern Domestic Southern Domestic International Total Total revenue from sales 2. Prepare a production budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Royal Furniture Company Production Budget For the Month Ending February 28 Units King Prince 3. Prepare a direct materials purchases budget for February. For those boxes in which you must enter subtracted or negative numbers use a minus sign. Royal Furniture Company Direct Materials Purchases Budget For the Month Ending February 28 Direct Materials Fabric (sq. yds.) Wood (linear ft.) Filler Springs Total (cu. ft.) (units) Required units for production: King Prince Desired inventory, February 28 Total Estimated inventory, February 1 Total units to be purchased Unit price Total direct materials to be purchased 4. Prepare a direct labor cost budget for February. Hours required for production: King Prince Total Hourly rate Total direct labor cost Royal Furniture Company Direct Labor Cost Budget For the Month Ending February 28 Framing Cutting Upholstery Department Department Department Total