Direct Labor Cost Budget Ace Racket Company manufactures two types of tennis rackets, the Junior and Pro Striker models. The production budget for July for the two rackets is as follows: Both rackets are produced in two departments, Forming and Assembly. The direct labor hours required for each racket are estimated as follows: The direct labor rate for each department is as follows: Prepare the direct labor cost budget for July. Sweet Tooth Candy Company budgeted the following costs for anticipated production August: Prepare a factory overhead cost budget, separating variable and fixed costs. Assume that factory insurance and depreciation are the only fixed factory costs