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) 650 598 7269690 730 75e The company plans for finished goods inventory of 270 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 20% of next month's production needs. Beginning direct materials inventory for April was 590 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.30 hours of direct labor at the rate of $14 per hour. The company budgets variable overhead at the rate of $18 per direct labor hour and budgets fixed overhead of $9,500 per month. Exercise 22-8 Manufacturing: Direct materials budget LO P1 Prepare a direct materials budget for April, May, and June. co. April June 590 720 690 units Materials needed for production (bs.) pound Each finished unit requires 030 hours of direct labor at the rate of $14 per hour. The company budgets variable t Materials Budget 720 to be (bs.) Budgeted cost of (units) 590 pounds of direct materials and the company wants to end each month with direct materials inventory equal to 20% of next pound. Each overhead at the rate of $18 per direct labor hour and budgets fixed overhead of $9,500 per month direct materials inventory for April was 590 pounds. Direct materials cost $2 per unit requires 0.30 hours of direct labor at the rate of $14 per hour. The company budgets variable needs Exercise 22-9 Manufacturing: Direct labor and factory overhead budgets LO P1 1. Prepare a direct labor budget Exercise 22-9 Manufacturing: Direct labor and factory overhead budgets LO P1 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. Prepare a direct labor budget. (Enter your direct labor hours (hrs.) per unit in two decimal places.) RAMOS Co and June April June Budgeted production (units) 590 720 690 units cost K R Exercise 22-9 Manufacturing: Direct labor and factory overhead budgets LO P1 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. Prepare a factory overhead budget for April, May, and June. Factory Overhead Budget For April, May, and June April June