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8 Part 2 of 2 1.25 points eBook Hint Print References Required information Ramos Co, provides the following sales forecast and production budget for the next four months: May June July April 500 580 530 600 Sales (units) Bodgeted production (units) 442 570 544 540 The company plans for finished goods inventory of 120 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 663 pounds. Direct materials cost $2 per pound. Each finished unit requires 0,50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $8.000 per month. 1. Prepare a direct labor budget for April, May, and June 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 June 442 544 units Budgeted production (units) Direct labor 0.50 0.50 hours per unit 221 272 hours Total labor hours needed Direct labor rate (per hour) Budgeted direct labor cost $ 16 per he S per unit (hrs) 16 S 3,536 $ Requint May 570 0.50 285 16 $ 4.560 $ 4,352 Required 2 > 8 Part 2 of 2 1.25 points Book Hint Print References Required Information Ramos Co. provides the following sales forecast and production budget for the next four months April May June 2014 Sales (units) 500 580 530 600 Budgeted production (units) 442 570 544 540 The company plans for finished goods inventory of 120 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 663 pounds Direct materials cost $2 per pound. Each finished unit requires 0.50 hours of direct labor at the rate of $16 per hour. The company budgets variable overhead at the rate of $20 per direct labor hour and budgets fixed overhead of $8,000 per month. 1. Prepare a direct labor budget for April, May, and June 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 June Apill Jane Total labor hours needed Variable factory overhead rate per direct labor hr Budgeted variatie overhead Budgeted fixed overhead Total budgeted factory overhead