Use the following information for the Quick Study below. (Algo)

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Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,500 units (solar panels) in July and 4,700 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 $17 per hour. The company applies variable overhead at the rate of $18 per direct labor hour. Budgeted fixed factory overhead is $178,000 per month. Prepare a factory overhead budget for August.