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: Forming Department $19.00 per hour Assembly Department $9.00 per hour Prepare the direct labor cost budget for July