Required information Use the following information for the Exercises below. Ramos Co. provides the following sales forecast and production budget for the next four months: April July 680 ay 660 June Sales (units) Budgeted production (units) 580 610 520 650 620 620 The company plans for finished goods inventory of 200 units at the end of June. In addition, each finished unit requires 5 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 30% of next month's production needs. Beginning direct materials inventory for April was 780 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.40 hours of direct labor at the rate of $24 per hour. The company budgets variable overhead at the rate of $28 per direct labor hour and budgets fixed overhead of $8,800 per month. 1. Prepare a direct labor budget 2. Prepare a factory overhead budget for April, May, and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a direct labor budget. (Enter your direct labor hours (hrs.) per unit in two decimal places.) RAMOS CO. Direct Labor Budget For April, May, and June April May June 620 units Budgeted production (units) 520 650 Total labor hours needed Budgeted direct labor cost Required 1 Required 2 1. Prepare a direct labor budget 2. Prepare a factory overhead budget for April, May, and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 .. . . . . . ... .... . .. Prepare a factory overhead budget for April, May, and June RAMOS CO. Factory Overhead Budget For April, May, and June April May June Total labor hours needed Budgeted variable overhead Budgeted fixed overhead Total budgeted factory overhead Required 2 Required 1