E8-23 (Algo) Cost of Goods Sold Budget (LO 8-3f] Galactic Inc. manufactures flying drone toys. Sales units for January, February, March, April and May were 620, 600, 672, 632, and 700 respectively. Each unit requires 3 direct labor hours and Galactic's hourly labor rate is $31 per hour. The company's variable overhead is $20 per unit produced and its fixed overhead is $7,100 per month. Use the information presented to complete the requirements. The drone toy includes 3 LED lights, which cost $15 each. Required: 1. Determine Galactic's budgeted manufacturing cost per drone. (Note: assume that fixed overhead per unit is $25.75.) 2. Determine Galactic's budgeted cost of goods sold for January and February Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Galactic's budgeted manufacturing cost per drone. (Note:assume that fixed overhead per unit is $25.75.) (Round your answer to 2 decimal places.) Manufacturing cost per unit Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine Galactic's budgeted cost of goods sold for January and February. Jan Feb Budgeted Cost of Goods Sold