QS 20-10 (Algo) Manufacturing: Direct labor budget LO P1 Each unit requires 5 hours of direct labor at a rate of $19 per hour. Prepare a direct labor budget for July. Each unit requires 5 hours of direct labor at a rate of $19 per hour. The company applies variable overhead at the rate of $19 per direct labor hour. Budgeted fixed factory overhead is $179,000 per month. Prepare a factory overhead budget for August. Required information Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,900 units (solar panels) in July and 5,100 units in August. 20-9 (Algo) Manufacturing: Direct materials budget LO P1 ach unit requires 3 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials iventory equal to 30% of the next month's direct materials requirement. As of June 30 , the company has 4,410 pounds of direct haterials in inventory. Prepare the direct materials budget for July