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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 May 15,000 desk-and-chair sets 17,eco desk-and-chair sets 20,000 desk-and-chair sets June Each desk-and-chair set requires 13 board feet of pine planks and 1.6 hours of direct labor. Each set sells for $60. 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 $24 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 ces Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Sales budget: May June Sales in sets) Sales pilco per set Sales revenue April 15,000 60 900.000 $ 5 Required 1 Required 63 Required 3 Required 4 Production budget (in sets): May June April 15,000 3,400 18,400 3,000 15,400 Sales Add: Desired ending inventory Total requirements Less: Projected beginning inventory Planned production 4,000 Required 1 Required 2 Required 3 Required 4 Raw-material purchases: (Round Required 3 Jd foot" to 2 decimal places.) May June Planned production (sets) Raw material required per set (board feet) Raw material required for production (board feet) Add: Desired ending inventory of raw material, in board foot (10% of next month's requirement) Total requirements April 15,400 13 200,200 27,000 22,880 223,080 Required 1 Required 2 Required 3 Required 4 Required 4 Direct-labor budget: (Do not round intermediate values. Round "Direct labor hours per set" to 1 decimal place.) May June Planned production (sets) Direct.labor hours per set Direct-labor hours required Cost per hour Planned direct-labor cost April 15,400 1.6 24.640 24 591,360 $ $

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