E9-22A (similar to): Direct Labor Budget Hoffman Industries manufactures three models of a product in a single plant with two departments: Cutting and Assembly. The company has estimated costs for each of the three product models, the Imperial, the Royal, and the Rocket models. The company is currently analyzing direct labor hour requirements for the upcoming year. Cutting Assembly Estimated hours per unit: Imperial 1.4 2.3 Royal 1.9 2.7 Rocket 1.3 2.1 Direct labor hour rate $ 10 Budgeted unit production for each of the products is as follows: Number of units to be produced Product model: Imperial Royal Rocket 890 Requirement: Prepare a direct labor budget for the upcoming year that shows the budgeted direct labor costs for each department and for the company as a whole. 550 750