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Halon Corporation, which manufactures low priced running shoes, is currently working on its budget for the new fiscal year which begins in January. As Halon's senior accountant, you are responsible for collecting the forecasts from each department and preparing the budget. The production manager submitted the following quarterly production forecast for the upcoming fiscal year 1st Quarter 10.600 2nd Quarter 8,500 3rd Quarter 8,800 4th Quarter 11,100 Units to be produced Each unit requires 0.45 direct labor hours, and direct laborers are paid $15.00 per hour. Using Schedule 4 (Brewer, Garrison, & Noreen, 2019, pp. 349 350) as a guide, prepare the following: 1. Direct labor budget for the upcoming fiscal year, a) Assume that the direct labor workforce will be adjusted each quarter based on the number of hours required to produce the budgeted number of units b) Assume that due to recent contract negotiations, there has been a change to the policy of hiring direct labor. The direct labor workforce should only contain permanent employees who are guaranteed at least 4,500 hours of pay each quarter at rate of $17 per hour. Hours worked over 4,500 hours in a quarter will be paid at a rate of 1.5 times the normal hourly rate 2. Submit a memo to the production department explaining the impact of the change in policy concerning the direct labor workforce and its effect on the budget answers to 2 decimal places) 27 Part 1 (a): Adjusted Direct Labor Workforce (Round "Direct labor time per unit hour Halon Corporation Direct Labor Budget 2nd Quarter 3rd Quarter th Quarter 1st Quarter Direct labor time per unit hours) Total direct labor-hours needed Direct labor cost per hour Total direct labor cost Part 1 (b): Permanent Direct Labor Workforce (Round "Direct labor time per unit (hours)" answers to 2 decimal places) Halon Corporation Direct Labor Budget 2nd Quarter 1st Quarter 3rd Quarter 4th Quarter Year Direct labor time per unit (hours) Total direct labor-hours needed Regular hours Overtime hours Wages for regular hours Overtime wages Total direct labor cost 4 Part 2: Memo to Production Supervisor To: Production Supervisor From: Student RE: Direct Labor Budget FE832SSESSREADER