Exercise 2015 (Algo) Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 Mco Levther manfactures leathet puses. Each purse requres 2 pounds of drect materials at a cost of $5 per pound and 07 direct laboc hout or a rate of $10 per hout. Variable ovechead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overthead is $7,000 per mont The company's poicy is to end each monti with direct materials inventory equal to 30% of the next month's direct matedafs requiement At the end of August the company hod 2.640 pounds of direct materials in inventory. The companys production budpet reports the following (1) Pepore direct noteriots buogets for September and October (2) Prepare difect iabor budgets for Seplember and octobei. 13) frebare tactory oremead budgets for September and october Complete this question by entering your enswers in the tabs below. Exercise 20-15 (Algo) Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 07direct labor hour at a rate of $10 per hour. Variable ovethead is budgeted at a rate of $2 per direct labor hour. Budgeted foxed overhead is $17000 pet montr. The company's policy is to end each month with direct materials inventory equal to 30% of the next month's direct. materials requirement. At the end of August the company had 2.640 pounds of direct materials in inventory. The company's production budget reports the following. (1) Prepare direct materials budgets for September and Octobet. (2) Prepare direct labor budpets for September and October (3) Prepare foctory overhead budgets for September and October Complete this question by entering your answers in the tabs below. Prepare direct labor budgets for september and october. (Round "oL houn required per unit" answers to one decimal place.) Exercise 20.15 (Algo) Monufacturing: Direct moterials, direct labor, and overhead budgets LO P1 Mco Leather monufactures ieather purses. Each purse requires 2 pounds of direct materials at a cost of $5 per pound and 0.7drect labor hour at a rate of $10 per hour. Varlable overthead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $17,000 per month. The company's policy is to endieach month with direct inaterials inventory equal to 30% of the next month's direct. materials requirement. At the end of August the company had 2.640 pounds of direct materials in inventory. The company's production budgetreports the following. (1) Prepure diect mioterisis budgets for Septenber and Octobec (2) fiepare direct labor budgets for Septembet and October (3) Prepare foctony overheod budgets to september and october Complete thiv question by entering your answers in the tabs below