Check 5 ! Required information Part 3 of 3 Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,600 units (solar panels) in July and 4,700 units in August. 2.22 points QS 7-11 (Algo) Manufacturing: Factory overhead budget LO P1 eBook Print Each unit requires 3 hours of direct labor at a rate of $20 per hour. The company applies variable overhead at the rate of $12 per direct labor hour. Budgeted fixed factory overhead is $172,000 per month. Prepare a factory overhead budget for August. References MIAMI SOLAR Factory Overhead Budget August Direct labor hours needed Variable overhead rate per direct labor hour Budgeted variable overhead Budgeted fixed overhead 172,000