CO Leather Goods manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 07 irect labor hours at a rate of $15 per hour. Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed nanufacturing overhead is $18.000 per month. The company's policy is to end each month with direct materials inventory equal to 20% of the next month's materials requirement. At the end of August the company had 4180 pounds of direct materials in inventory. The company's production budget reports the following. Units to be produced 5,800 6,900 6,480 (1) Prepare direct materials budgets for September and October (2) Prepare direct labor budgets for September and October (3) Prepare factory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for September and October. CO LEATHER GOOD Direct Materials Budget For the Months of September and October Materials needed for production (bs) Budgeted ending inventory (lbs.) Total materials requirements (bs) Budgeted beginning inventory (ibs) Materials to be purchased (Ibs) Direct material cost per b Total budgeted direct materials Required 2