Use the following information for the Exercises below. Ramos Co. provides the following sales forecast and production budget for the next four months. April 570 May 650 640 Sales (units) Budgeted production (units) June 600 610 July 670 610 510 The company plans for finished goods inventory of 190 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 765 pounds. Direct materials cost $2 per pound. Each finished unit requires 0.30 hours of direct labor at the rate of $23 per hour. The company budgets variable overhead at the rate of $27 per direct labor hour and budgets fixed overhead of $8,700 per month Exercise 07-8 Manufacturing: Direct materials budget LO P1 Prepare a direct materials budget for April, May, and June. RAMOS CO. Direct Materials Budget For April, May, and Juno April May 510 640 June 610 units Budget production (units) ncos Materials needed for production (lbs.) Total materials requirements (lbs.) Materials to be purchased (lbs.) Materials price per pound Budgeted cost of direct materials purchases 2. Prepare a factory overhead budget for April, May, and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a direct labor budget for April, May, and June. (Enter your direct labor hours (hrs.) per unit in two decimal places.) RAMOS CO. Direct Labor Budget For April, May, and June April May 510 640 June 610 units Budgeted production (units) Total labor hours needed Budgeted direct labor cost Required 2 > 2. Prepare a factory overhead budget for April, May, and June. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a factory overhead budget for April, May, and June. RAMOS CO. Factory Overhead Budget For April, May, and Juno April May Juno Total labor hours needed Budgeted variable overhead Budgeted fixed overhead Total budgeted factory overhead