3. DL and FACTORY OH BUDGETS: Shields & Company budgets production of 7,400 units during the second quarter. Information on its direct labor and its variable and fixed overhead is as follows: Direct labor Each finished unit requires 3 direct labor hours, at a cost of $13 per hour. Variable overhead Budgeted at the rate of $5 per direct labor hour. Fixed overhead Budgeted at $480,500 per quarter. a. Prepare a direct labor budget for the second quarter. Use proper formatting, making sure to include the firm's name, the name of the budget, and the budget period b. Prepare a factory overhead budget for the second quarter. Use proper formatting, making sure to include the firm's name, the name of the budget, and the budget period