Direct labor and factory overhead budgeting B-21.06 lkon Equipment produces exercise equipment. The following schedule reveals anticipated monthly production of bicycles for the first three months of the year January February March 11,000 14,000 12,500 lkon budgets for three direct labor hours per bicycle, at an average cost of $16.50 per hour. Variablefactoy overhead is applied at the rate of $10.25 per direct labor hour. Fixed overhead is expected to run $11000 per month, which includes $10,000 per month of noncash expenses related to depreciation. Determine the total expected monthly cash outflow for labor and overhead