Exercise 8.4 Direct Labor Budget [LO8-5] The production manager of Rordan Corporation has submitted the following quarerly production forecast for the upcoming fiscal year. Each unit requires 0.65 direct lobor-hours, and direct laborers are poid $20.00 per hour. Required: 1. Prepare the company's direct laber budget for the upcoming fiscal year. Assume that the diect iabor workforce is adjusted each quarter to metch the number of hours required to prodice the forecasted number of units produced. 2. Piepare the company's diect labor budget for the upcoming fiscal year, assuming that the direct iabor worktorce is not adjusted each quarter, instead, assume that the company's direct labor worktorce consists of permanent employees who are guaranteed to be paid for at least 7,000 hours of work each quarter. If the number of required direct labor-hours is less than this number the workers are paid for 7,000 hours anyway. Any hours worked in excess of 7,000 hours in a quarter are paid at the rate of 15 times the nearmai boutly tale for direct laboc. Complete this question by entering yeur answers in the tabs below: Prepare the companyy direct labor budget for the upcoming fiscal vear, Assume that the arect labor wariblarce is aajusted each euaree to matot the number of hours required to produce the forecasted number of units produced. ficound voured labir binie per unat (hourny' answers to 2 decimat places.) eoch quartet. Instead, assume that the company's direct labor workforce consists of permanent empleyees whe are guaranteed to be pald for at least 7000 hours of work each quarte. If the number of required direct labor-hours is less than this numbec, the workers are pald for 7.000 hours anyway. Any hours worked in excess of 7.000 hours in a quarter are paid at the rate of 1.5 times the normal houry rate tor direct tabor. Complete this questien by entering your answers in the tabs below. Prepare the company direct labor budget for the upcoming fiscal year, Assume that the direct labor warkforce is adjurted cach quartar to match the number of hours required to produce the forecastod number of units produced. (hound "Direct labor time per unit (hours)" ansers to 2 decimal placet.)