MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materlals at a cost of $5 per pound and 0.7d Irect labor hour at a rate of $14 per hour. Varlable 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 materlals inventory equal to 40% of the next month's direct materlals requirement. At the end of August the company had 3,840 pounds of direct materlals In Inventory. The company's production budget reports the following. (1) Prepare direct materlals 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. Prepare direct labor budgets for September and October. Note: Round "DL hours required per unit" answers to one decir Prepare factory overhead budgets for September and October