Exercise 7-13 (Algo) Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Company budgets production of 2,790 units during the second quarter. Information on its direct labor and its variable and fixed overhead is as follows: Direct labon Varfable overhead Fixed overhead Each finished unit requires 5 direct labor hours, at a cost of $10 per hour, Budgeted ot the rate of $12 per direct labor hour. Audgeted ot 5580,000 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. Prepare a direct labor budget. Prepare a direct labor budget. question by entering your answers in the tabs below. Prepare a factory overhead budget