Required information Mlami 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 or $16 per hour. The company applies variable overhead at the rate of $12 per direct abor hour. Budgeted fixed factory overhead is $180,000 per month. Prepare a factory overhead budget for August. Santos Company is preparing a cash budget for February. The company has $15,000 cash at the beginning of February and budgets $66,000 in cash receipts from sales and $116,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $6,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.) Required information Mlami 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 or $16 per hour. The company applies variable overhead at the rate of $12 per direct abor hour. Budgeted fixed factory overhead is $180,000 per month. Prepare a factory overhead budget for August. Santos Company is preparing a cash budget for February. The company has $15,000 cash at the beginning of February and budgets $66,000 in cash receipts from sales and $116,000 in cash payments during February. Prepare the cash budget for February assuming the company maintains a $6,000 minimum cash balance and will take a loan if necessary to maintain this balance. The company has no loans outstanding on February 1. (Negative cash balances, if any, should be indicated with minus sign.)