Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,000 units (solar panels) in July and 5,300 units in August. Each unit requires 4 hours of direct labor at a rate of $16 per hour. The company applies variable overhead at the rate of $12 per direct labor hour. Budgeted fixed factory overhead is $180,000 per month. Prepare a factory overhead budget for August. MIAMI SOLAR Factory Overhead Budget Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead August