(Solved): Required information Miami Solar manufactures solar panels for industrial use. The company budgets ...

Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,400 units in August. Each unit requires 2 pounds of direct materials, which cost $6 per pound. The company's policy is to maintain direct materials inventory equal to 20% of the next month's direct materials requirement. As of June 30, the company has 1,680 pounds of direct materials in inventory. Prepare the direct materials budget for July. MIAMI SOLAR Direct Materials Budget Units to produce Budgeted units sales for month Materials needed for production (pounds) Add: Desired ending materials inventory Total materials required (pounds) Less: Beginning materials inventory (pounds) Materials to purchase (pounds) Materials cost per pound Cost of direct materials purchases July 4,200 Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,400 units in August. Each unit requires 3 hours of direct labor at a rate of $13 per hour. Prepare a direct labor budget for July. MIAMI SOLAR Direct Labor Budget Units to produce Direct labor hours needed Cost of direct labor July 4,200 Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,200 units (solar panels) in July and 4,400 units in August. Each unit requires 3 hours of direct labor at a rate of $13 per hour. The company applies variable overhead at the rate of $12 per direct labor hour. Budgeted fixed factory overhead is $186,000 per month. Prepare a factory overhead budget for August. MIAMI SOLAR Factory Overhead Budget Direct labor hours needed Budgeted variable overhead Budgeted variable overhead Budgeted fixed overhead Budgeted total factory overhead $ August