Required information Use the following information for the Quick Study below. (Algo) Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,600 units (solar panels) in July and 4,300 units in August. QS 22-9 (Algo) Manufacturing: Direct materials budget LO P1 Each unit requires 2 pounds of direct materials, which cost $5 per pound. The company's policy is to maintain direct materials inventory equal to 30% of the next month's direct materials requirement. As of June 30 , the compony has 3,360 pounds of direct materials in inventory. Prepare the direct materials budget for July. July and 4,300 units in August. QS 22-10 (Algo) Manufacturing: Direct labor budget LO P1 Each unit tequires 3 hours of direct labor at a tate of $13 per hour. Prepare a direct labor budget for July. QS 22-11 (Algo) Manufacturing: Factory overhead budget LO P1 Each unit requires 3 hours of direct labor at a rate of $13 per hour. The company applies variable overhead at the rate of $15 per direct labor hour, Budgeted fixed factory overhead is $18t,000 per month. Prepare a factory overhead budget for August