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 finishod unit requires 5 direct labor hours, at a cost of $10 per hour. Variable overhead Budaeted at the rate of $12 per direct labor hour. Fixed overhead Budgeted at $650,000 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 direct labor budget. 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 1 abor hours, at a coct of $10 per hour. Variable overhead Qudgoted at the rate of $12 per direct labor hour. Fixed averhead Budgeted at $650,020 per quarter. 1. Prepare a direct labor buciget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Prepare a factory overhead budget