Exercise 20-16 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 Ornemental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 3 pounds of direct materials at a cost of $2 per pound and 0.4 direct Isbor hours sterete of $15 per hour . Variable manufacturing overhead is charged at a rate of $3 per direct labor hour. Fixed manufacturing overhead is $3,300 per month. The company's policy is to maintain direct materials inventory equal to 20% of the next month's materials requirement. At the end of February the company hed 5,980 pounds of direct materials in inventory. The company's production budget reports the following. Production Budget April Units to be produced 3,900 4,928 5,300 March May (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April. (3) Prepare fectory overhesd budgets for Merch and April. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct materials budgets for March and April. April ORNAMENTAL SCULPTURES MFG. Direct Materials Budget For the Months of March and April March Budgeted production (units) Materials requirements per unit (lbs. Materials needed for production (lbs.) Budgeted ending inventory (lbs.) Total materials requirements (lbs.) Budgeted beginning inventory (lbs.) Materials to be purchased (lbs.) Direct material cost perib. Total budgeted direct materials (Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two decimal places.) ORNAMENTAL SCULPTURES MFG. Direct Labor Budget For the Month of March and April March April Budgeted production (units) DL hours required per unit Total direct labor hours needed Direct laborate per hour Total budgeted direct labor Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare factory overhead budgets for March and April. April ORNAMENTAL SCULPTURES MFG. Factory Overhead Budget For the Months of March and April March Total direct labor hours needed VOH rate per DL hour Budgeted variabler overhead Budgeted fixed overhead Total budgeted factory overhead