Exercise 20-14 (Algo) Manufacturing: Direct labor and factory overhead budgets LO P1 Ramos Company provides the following (partial) production budget for the next three months. Each finished unit requires 0.4 hour of direct labor at the rate of $24 per hour. The company budgets variable overhead at the rate of $28 per direct labor hour and budgets fixed overhead of $8,800 per month Production Budget April Units to produce 1. Prepare a direct labor budget for April, May, and June 2. Prepare a factory overhead budget for April May, and June May 520 650 June 620 Complete this question by entering your answers in the tobs below. Required 1 Required 2 Prepare a direct labor budget for April, May, and June. (Enter your direct labor hours (hours) per unit in two decimal places.) RAMOS COMPANY Direct Labor Budget April 520 May June Units to produce 650 620 units Direct labor hours needed Cost of direct labor Required 1 ODOO Required 2 Prepare a factory overhead budget for April, May, and June. RAMOS COMPANY Factory Overhead Budget April May June Direct labor hours needed Budgeted variable overhead Budgeted fixed overhead Budgeted total factory overhead