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: The company plans for finished goods inventory of 120 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 663 pounds. Direct materials cost \$2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $8,000 per month. Exercise 20-8 Manufacturing: Direct materials budget LO P1 Prepare a direct materials budget for April, May, and June. Exercise 20-8 Manufacturing: Direct materials budget LO P1 Prepare a direct materials budget for April, May, and June. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget for April, May, and June. 1.5 points 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.) 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