Vos Company, a manufacturer, predicts sales of 5,250 units in January, 4,900 units in February, 6,650 units in March, and 7,300 units in April. The company wants each month's ending finished goods inventory to equal 50% of next month's predicted unit sales. Beginning finished goods inventory for January is 2,625 units. Each unit of finished goods requires 0.45 pounds of direct materials at a cost of $13.00 per pound, and 5.5 hours of direct labor at a cost of $21 per hour. Additionally, the company wants each month's ending raw materials inventory to equal 20% of next month's budgeted production. Prepare a sales budget, a production budget, a direct materials and a direct labor budget. Vos Company Budget Assumptions For the months of January, February, and March 2021 January February March Selling price per unit $560 $560 $560 Budgeted sales (units) 5,250 4,900 6,650 Budgeted sales (units) April 7,300 Budgeted production (units) April 7,700 Ratio of ending finished goods inventory to next month's sales 50% Ratio of ending raw materials inventory to next month's requirements 20% Number of units in finished goods inventory, January 1 2,625 Number of pounds in raw materials inventory, January 1 457 Number of pounds of raw materials required per unit 0.45 Cost per pound of raw materials $13.00 Number of direct labor hours required per unit 5.5 Rate per direct labor hour $21.00 Vos Company Sales Budget For the months of January, February, and March 2021 January February March Budgeted sales (units) Selling price per unit Total budgeted sales (dollars) Vos Company Production Budget For the months of January, February, and March 2021 January February March Next month's budgeted sales (units) Ratio of inventory to future month's sales Budgeted ending inventory (units) Add: Budgeted sales (units) Required units of available production Deduct: Beginning inventory (units) Budgeted units to produce Vos Company Direct Materials Budget For the months of January, February, and March 2021 January February March Budgeted units to produce Materials requirements per unit Materials needed for production (pounds) Add: Budgeted ending inventory (pounds) Total materials requirements (pounds) Deduct: Beginning inventory (pounds) Materials to be purchased (pounds) Material price per pound Total budgeted cost of direct materials purchases Vos Company Direct Labor Budget For the months of January, February, and March 2021 January February March Budgeted units to produce Direct labor requirements (hours) per unit Total direct labor hours needed Direct labor rate (per hour) Total budgeted direct labor cost