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 4,000 units (solar panels) in July and 6,000 units in August. QS 20-11 (Algo) Manufacturing: Factory overhead budget LO P1 Each unit requires 5 hours of direct labor at a rate of $18 per hour. The company applies variable overhead at the rate of $12 per direct abor hour. Budgeted fixed factory overhead is $174,000 per month. Prepare a factory overhead budget for August