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. Sales (units) Budgeted production (units) April 530 470 May 610 600 June 560 570 July 630 570 The company plans for finished goods inventory of 150 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 705 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.40 hours of direct labor at the rate of $19 per hour. The company budgets variable overhead at the rate of $23 per direct labor hour and budgets fixed overhead of $8,300 per month. Exercise 20-9 Manufacturing: Direct labor and factory overhead budgets LO P1 1. Prepare a direct labor budget for April, May, and June. 2. Prepare a factory overhead budget for April, May, and June