Exercise 8-4 Direct Labor Budget [LO8-5] The production manager of Rordan Corporation has submitted the following quarterly production forecast for the upcoming fiscal year: Each unit requlres 0.75 direct labor-hours, and direct laborers are paid $16.00 per hour. Required: 1. Prepare the company's direct labor-budget for the upcoming fiscal year. Assume that the direct labor workforce is adjusted each querter to match the number of hours required to produce the forecasted number of units produced. 2. Prepare the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted esch quarter. Instead, assume that the company's direct labor workforce consists of permanent emplayees who are guaranteed to be poid for ot least 8,000 hours of work each quarter. If the number of required direct labor hours is less than this numbec, the workers. are paid for 8,000 hours anyway. Any hours worked in excess of 8,000 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct lobor Complete this question by entering your answers in the tabs below. Prepure the company's direct labor budget for the upcoming fiscat year. Assume that the direct labor workforce is adjuated wach quarter to thatch the number of hours required to produce the forecasted number of units produced. (Round "Dlrect Tabor time pef unut (hours) anwwers to 2 dederial placesi)