Use the following information for the below

Miami Solar manufactures solar panels for industrial use. The company budgets production of 5,600 units (solar panels) in July and 4,500 units in August.

QS 20-13 Manufacturing: Direct materials budget LO P1

Each unit requires 2 pounds of direct materials, which cost $7 per pound. The companys policy is to maintain direct materials inventory equal to 20% of the next months direct materials requirement. As of June 30, the company has 2,240 pounds of direct materials in inventory, which complies with the policy. Prepare a direct materials budget for July.

MIAMI SOLAR
Direct Materials Budget
For Month Ended July 31
Budget production (units)	5,600
Materials needed for production (lbs.)
Total materials requirements (lbs.)
Materials to be purchased (lbs.)
Budgeted cost of direct materials purchases

Each unit requires 4 hours of direct labor at a rate of $14 per hour. Prepare a direct labor budget for July.

MIAMI SOLAR
Direct Labor Budget
For Month Ended July 31
Budgeted production	5,600
Total labor hours needed
Budgeted cost of direct labor

Each unit requires 4 hours of direct labor at a rate of $14 per hour. Variable factory overhead is budgeted to be 60% of direct labor cost, and fixed factory overhead is $174,000 per month. Prepare a factory overhead budget for August.

MIAMI SOLAR
Factory Overhead Budget
For Month Ended August 31
Budgeted total overhead