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Required information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,800 units (solar panels) in July and 5,400 units in August. Each unit requires 4 hours of direct labor at a rate of $14 per hour. Prepare a direct labor budget for July. Required Information Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,800 units (solar panels) in July and 5,400 units in August. Each unit requires 3 pounds of direct materials, which cost $7 per pound. The company's policy is to maintain direct materlals inventory equal to 30% of the next month's direct materlals requirement. As of June 30 , the company has 4,320 pounds of direct. materials in inventory. Prepare the direct materials budget for July. Champ incorporated budgets the following sales in units for the coming two months. Each month's ending inventory of finished units should be 50% of the next month's sales. The April 30 finished goods inventory is 125 units. Prepare the production budget for May. Miami Solar manufactures solar panels for industrial use. The company budgets production of 4,800 units (solar panels) in July and 5,400 units in August. Each unit requires 4 hours of direct labor at a rate of $14 per hour. The company applies variable overhead at the rate of $20 per dire abor hour. Budgeted fixed factory overhead is $174,000 per month. Prepare a factory overhead budget for August