Hockey Pro budgets 380 hours of direct labor during May. The company applies variable overhead at the rate of $13 per direct labor hour. Budgeted fixed overhead equals $49,000 per month. Prepare a factory overhead budget for May. HOCKEY PRO Factory Overhead Budget Direct labor hours needed Variable overhead rate per direct labor hour Budgeted variable overhead Budgeted fixed overhead Budgeted total factory overhead May 40,000 $ 49.000