Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,400 units during the second quarter. Other information is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 4 direct labor hours, at a cost of $9 per hour Applied at the rate of $11 per direct labor hour Budgeted at $450,000 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. Required 1 Required 2 Prepare a direct labor budget. ADDISON CO. Direct Labor Budget Second Quarter 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. ok Required 1 Required 2 - Prepare a direct labor budget. - ADDISON CO. Direct Labor Budget Second Quarter inces Units to be produced 2.400 units Total labor hours needed Budgeted direct labor cost Required 2 > 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a factory overhead budget. ADDISON CO. Factory Overhead Budget Second Quarter Total labor hours needed es Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead