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 Variable overhead Fixed overhead Each finished unit requires 3 direct labor hours, at a cost of $7 per hour. Budgeted at the rate of $9 per direct labor hour. 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. Required 1 Required 2 Prepare a direct labor budget. ADDISON COMPANY Direct Labor Budget Second Quarter 2.750 units Units to produce Direct labor hours needed Cost of direct labor Required 1 Required 2 Prepare a factory overhead budget. ADDISON COMPANY Factory Overhead Budget Second Quarter Direct labor hours needed Budgeted variable overhead Budgeted total factory overhead