MCO Leather manufactures leather purses. Each purse requires 3 pounds of direct materials at a cost of $5 per pound and 07 direct labor hours at a rate of $12 per hour. Variable manufacturing overhead is charged at a rate of 2 per direct labor hour. Fixed manufacturing overhead 516,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's materials requirement. At the end of August the company had 2,780 pounds of direct materials in inventory The company's production budget reports the following Units to be produced (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. F: Required 2 Required 3 Prepare direct materials budgets for September and October MCO Leather Direct Materials Budget For the Months of September and October Septe Budgeted production (unit) 5.300 7.000 Masteriis requirements per als) 3 Mar e d for production lbs.) 15.000 21.000 Bugending very 5 000 20 000 Budgeted beginning inventory ) Materials to be purchased ) 15.000 21.000 Direct material cost perib Total budgeted direct materials ISO 30 Required 2 > Required 1 Required 2 Required 3 Prepare direct labor budgets for September and October (Round DL hours required per unit" answers to one decimal place.) MCO Leather Direct Labor Budget For the Months of September and October September October Budgeted production (units) DL hours required per unit Total direct labor hours needed 0 0 Drect labor rale per hour Total budgeted direct labor 5 05 0 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare factory overhead budgets for September and October MCO Leather Factory Overhead Budget For the Months of September and October September October Total direct labor hours needed VOH rate per DL hour Budgeted variable overhead Budgeted fixed overhead Total budgeted factory overhead s o s o