Addison Company budgets production of 2,860 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 5 direct labor hours, at a cost of $10 per hour. Variable overhead Budgeted at the rate of $12 per direct labor hour. Fixed overhead Budgeted at $650,800 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Prepare a direct labor budget. Prepare a factory overhead budget. Kayak Company budgeted the following cash receipts (excluding cash receipts from loans received) and cash payments (excluding cash payments for loan principal and interest payments) for the first three months of next year. Kayak requires a minimum cash balance of $50,000 ot each month-end, Loans taken to meet this requirement charge 18 , interest per month, paid at each month-end. The interest is computed based on the beginning balance of the loan for the month. Any preliminary cash balance above $50,000 is used to repay loans at month-end. The company has a cash balance of $50,000 and a loan balance of $100,000 at January 1