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Addison Company budgets production of 2,470 units during the second quarter. Information on its direct labor and its variable and fixed overhead is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 5 direct labor hours, at a cost of $8 per hour. Budgeted at the rate of $10 per direct labor hour. Budgeted at $520,800 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. Addison Company budgets production of 2,470 units during the second quarter. Information on its direct labor and its variable and fixed overhead is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 5 direct labor hours, at a cost of 58 per hour. Budgeted at the rate of $10 per direct labor hour. Budgeted at $520,660 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 factory overhead budget