DM Cost per DLHs per unit Direct labor rate pound per hour 2 $4 0.80 $16 VOH rate per DLH Fixed Overhead Direct Materials requirement August ending Inventory $2 $10,000 40% 3,680 MCO Leather manufactures leather purses. Each purse requires 2 pounds of direct materials at a cost of $4 per pound and 0.8 direct labor hour at a rate of $16 per hour. Variable overhead is budgeted at a rate of $2 per direct labor hour. Budgeted fixed overhead is $10,000 per month. The company's policy is to end each month with direct materials inventory equal to 40% of the next month's direct materials requirement. At the end of August the company had 3,680 pounds of direct materials in inventory. The company's production budget reports the following. DM per unit (pounds) Production Budget Units to produce September 4,600 October November 6,200 5,800 Required: (1) Prepare direct materials budgets for September and October. (Use cells A2 to H11 from the given Information to complete this question.} MCO Leather Direct Materials Budget Units to produce Materials needed for production (pounds) Total materials required (pounds) Materials to purchase (pounds) Budgeted direct materials purchases September October (2) Prepare direct labor budgets for September and October. (Use cells A2 to H11 from the given Information to complete this question.} MCO Leather Direct Labor Budget Units to produce Direct labor hours required per unit Direct labor hours needed September October Budgeted direct labor cost (3) Prepare factory overhead budgets for September and October. (Use cells A2 to H11 from the given Information to complete this question.) MCO Leather Factory Overhead Budget Direct labor hours needed Budgeted variable overhead Budgeted fixed overhead Budgeted total factory overhead September October