Required information Miami Solar manufactures solar panels for Industrial use. The company budgets production of 5,400 units (solar panels) in July and 4,900 units in August Each unit requires 4 pounds of direct materials, which cost $5 per pound. The company's policy is to maintain direct materials Inventory equal to 30% of the next month's direct materials requirement. As of June 30, the company has 6,480 pounds of direct materials in Inventory. Prepare the direct materials budget for July MIAMI SOLAR Direct Materials Budget July Units to produce 5.400 Materials needed for production (pounds) Total materials required (pounds) Materials to purchase pounds) Cost of direct materials purchases Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,400 units (solar panels) in July and 4.900 units in August 13 Each unit requires 5 hours of direct labor at a rate of $15 per hour. Prepare a direct labor budget for July MIAMI SOLAR Direct Labor Budget Units to produce July 5.400 Direct labor hours needed Cost of direct labor Miami Solar manufactures solar panels for Industrial use. The company budgets production of 5,400 units (solar panels) in July and 4.900 units in August Each unit requires 5 hours of direct labor at a rate of $15 per hour. The company oppiles variable overhead at the rate of $14 per direct labor hour. Budgeted fixed factory overhead is $174,000 per month. Prepare a factory overhead budget for August MIAMI SOLAR Factory Overhead Budget August Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead