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QS 20-9 (Algo) Manufacturing: Direct materials budget LO P1 Each unit requires 4 pounds of direct materials, which cost $5 per pound. The company's policy is to maintain direct materials Inventory equal to 30% of the next month's direct materials requirement. As of June 30, the company has 6,720 pounds of direct materials in inventory. Prepare the direct materials budget for July MIAMI SOLAR Direct Materials Budget July 5,600 Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to be purchased (pounds) Cost of direct materials purchases Required information Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,600 units (solar panels) in July and 5.900 units in August QS 20-10 (Algo) Manufacturing: Direct labor budget LO P1 Each unit requires 5 hours of direct laborata rate of $13 per hour. Prepare a direct labor budget for July MIAMI SOLAR Direct Lobor Budget ances Units to produce July 5,600 Direct labor hours need Cost of direct labor Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for Industrial use. The company budgets production of 5,600 units (solar panels) in July and 5,900 units in August. QS 20-11 (Algo) Manufacturing: Factory overhead budget LO P1 Each unit requires 5 hours of direct labor at a rate of $13 per hour. The company applies variable overhead at the rate of $12 per direct labor hour. Budgeted fixed factory overhead is $183,000 per month. Prepare a factory overhead budget for August MIAMI SOLAR Factory Overhead Budget August Budgeted total factory overhead