Exercise 20-16 Manufacturing: Direct materials, direct labor, and overhead budgets LO P1 Omamental Sculptures Mfg. manufactures garden sculptures. Each sculpture requires 8 pounds of direct materials at a cost or $3 per pound and 0,4 direct labor hours at a rate of $20 per hour. Variable manufacturing overhead is charged at a rate of $4 per direct labor hout, Fixed manufacturing overhead is $3,100 per month. The company's policy is to maintain direct materials inventory equal to 30% of the next month's materials requitement. At the end of February the company had 4,780 pounds of direct materials in inventory. The compeny's production budget reports the following. (1) Prepsre direct materieks budgets for March and April. (2) Propare direct labor budgets for March and Apri. (3) Prepare factory overheod budgets for March and Apri (1) Prepare direct materials budgets for March and April. (2) Prepare direct labor budgets for March and April. (3) Prepare factory overhead budgets for March and April. Complete this question by entering your answers in the tabs below. Prepare direct materials budgets for March and Aprit. Prepare direct materials budgets for March and April. Prepare direct labor budgets for March and April. (Round "DL hours required per unit" answers to two Complete this question by entering your answers in the tabs below. Prepare factory overhead budgets for March and April