MCO Leather manufactures leather purses. each purse requires 3 pounds of direct material at a cost of $5 per pound and 0.7 direct labor hours at a rate of $10 per hour. variable manufacturing overhead is charged at a rate of $3 per direct labor hour. fix manufacturing overhead at $16,000 per month. the company's policy is to end each month with direct material inventory equal to 40% of the next months material appointment. at the end of August to company had 4680 pounds of direct materials in inventory. the company production budget reports of the following

Production Budget Units to be produced September 5,000 October 6,400 November 6,000 (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. Required 1 Required 2 Required 3 Prepare direct materials budgets for September and October. October MCO Leather Direct Materials Budget For the Months of September and October September Budgeted production (units) Materials requirements per unit (lbs) Materials needed for production (lbs.) 0 Budgeted ending inventory (lbs) Total materials requirements (lbs) 0 Budgeted beginning inventory (lbs.) Materials to be purchased (lbs) 0 Direct material cost per lb. Total budgeted direct materials $ 0 0 0 Required 2 Prepare direct labor budgets for September and October, (Round "OL 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 Direct labor rate per hour Total budgeted direct labor $ 05 4 Production Budget Units to be produced September 5,000 October 6,400 November 6,000 (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 be 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 0 0 Budgeted fixed overhead Total budgeted factory overhead $ os 0