Addison Company budgets production of 2,750 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 $7 per hour. Variable overhead Budgeted at the rate of $9 per direct labor hour. Fixed overhead Budgeted at $540,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Prepare a factory overhead budget