Exercise 20-16 Garden Yeti manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at acos Manufacturing: Direct of $3 per pound and 0.5 direct labor hour at a rate of $18 per hour. Variable overhead is budgeted as a rete materials, direct labot, of $3 per direct labor hour. Budgeted fixed overhend is $4.000 per month. The company's policy in to and overhead budgets maintain direct materials inventory equal to 20% of the next month's direct materials requirement. Ar ithe P1 end of February the company had 5,280 pounds of direct materials in inventory, The company's prowselabor, and (3) factory overhead