MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $19 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $16,000 per month. 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 2,700 pounds of direct materials in inventory. The company's production budget reports the following. (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Complete this question by entering your answers in the tabs below. Prepare direct materials budgets for September and October. MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $19 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $16,000 per month. 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 2,700 pounds of direct materials in inventory. The company's production budget reports the following. (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory 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 "DL hours required per unit" answers to one decimal place.) MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.7 direct labor hour at a rate of $19 per hour. Variable overhead is budgeted at a rate of $3 per direct labor hour. Budgeted fixed overhead is $16,000 per month. 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 2,700 pounds of direct materials in inventory. The company's production budget reports the following. (1) Prepare direct materials budgets for September and October. (2) Prepare direct labor budgets for September and October. (3) Prepare factory overhead budgets for September and October. Complete this question by entering your answers in the tabs below. Prepare factory overhead budgets for September and October. Use the following information to prepare the July cash budget for Acco Company. Ignore the "Loan activity" section of the budget a. Beginning cash balance on July 1:$66,000. b. Budgeted cash receipts from sales: 30% is collected in the month of sale, 50% in the next month, and 20% in the second month after sale. Sales amounts are May (actual), $1,940,000; June (actual), $1,410,000; and July (budgeted), $1,470,000. c. Budgeted cash payments on merchandise purchases: 90% in the month of purchase and 10% in the month following purchase. Purchase amounts are June (actual), $550,000; and July (budgeted), $650,000. d. Budgeted cash payments for salaries in July: $250,000. e. Budgeted cash payments for sales commissions for July: $110,000. f. Budgeted cash payment for income taxes in July: $70,000. g. Budgeted cash payment for loan interest in July: $8,000. Complete this question by entering your answers in the tabs below. Calculate the budgeted cash receipts and cash payments. Complete this question by entering your answers in the tabs below. Calculate the budgeted cash receipts and cash payments. Complete this question by entering your answers in the tabs below. Prepare the July cash budget for Acco Company