Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,100 units (solar panels) in July and 6,100 units in August Each unit requires 4 hours of direct laborat a rate of $17 per hour. Variable factory overhead is budgeted to be 70% of direct labor cost, and fixed factory overhead is $174,000 per month. Prepare a factory overhead budget for August Answer is complete but not entirely correct. MIAMI SOLAR Factory Overhead Budget For Month Ended August 31 Total budgeted direct labor s Variable overhead rate Budgeted variable overhead S Budgeted fixed overhead Budgeted total overhead $ O 0 24400 12% 3 7.320 174,000 181,320