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Miami Solar manufactures solar panels for industrial use. The company budgets production of 4400 units (solar panels) in July and 5,600 units in August QS 20-9 (Algo) Manufacturing: Direct materials budget LO P1 Each unit requires 4 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials inventory equal to 40% of the next month's direct materials requirement . As of June 30, the company has 7040 pounds of direct materials in inventory. Prepare the direct materials budget for July MIAMI SOLAR Direct Materials Budget July 4,400 Units to produce Matenals needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Cost of direct materials purchases Required information Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,400 units (solar panels) in July and 5,600 units in August. QS 20-10 (Algo) Manufacturing: Direct labor budget LO P1 Each unit requires 5 hours of direct labor at a rate of $14 per hour. Prepare a direct labor budget for July. MIAMI SOLAR Direct Labor Budget Units to produce July 4,400 Direct labor hours needed Cost of direct labor Required information Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 4 400 units (solar panels) in July and 5,600 units in August, QS 20-11 (Algo) Manufacturing: Factory overhead budget LO P1 Each unit requires 5 hours of direct labor at a rate of $ per hour. The company applies variable overhead at the rate of 12 per direct labor hour Budgeted fixed factory overhead is $182,000 per month. Prepare a factory overhead budget for August MIAMI SOLAR Factory Overhead Budget August Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead $ 0