mco leather manufactures leather purses. each purse requires $2$ pounds of direct materials at a cost of $$4$ per pound and $0\mathrm{.}7$ direct labor hour at a rate of $$18$ per hour. variable overhead is budgeted at a rate of $$2$ per hour direct labor hour. budgeted fixed overhead is $$20,000$ per month. the company's policy is to end each month with direct materials inventory equal to $30\%$ of the next months direct materials requirement. at the end of if augusAugust the company had $2,640$ pounds of direct materials in inventory the company's production budget reports the following. production budget$-$ units to produce september$-4400$ october$-6700.$ november$-61001)$ prepare direct materials budgets for September and October $.2)$ prepare direct labor budgets for septembeSeptember and oOctober. $3)$ prepare factory overhead budgets for septembeSeptember and octobeOctober