Each unit requires 3 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials Inventory equal to 20% of the next month's direct materials requirement. As of June 30, the company has 2,940 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July MIAMI SOLAR Diroct Materials Budget For Month Ended July 31 Budget production (units) 4,000 Materials needed for production (lbs.) Total materials requirements (66) Materials to be purchased (lbs) Budgeted cost of direct materials purchases Each unit requires 4 hours of direct laborat a rate of $11 per hour. Prepare a direct labor budget for July. MIAMI SOLAR Direct Labor Budget For Month Ended July 31 Budgeted production 4,900 Total labor hours needed Budgeted cost of direct labor cach unit requires 4 hours of direct labor at a rate of $11 per hour. Variable factory overhead is budgeted to be 60% of direct labor cost, and fixed factory overhead is $182,000 per month Prepare a factory overhead budget for August MIAMI SOLAR Factory Overhead Budget For Month Ended August 31 Budgeted total overhead