Preparing a Direct Labor Budget Patrick Inc. makes industrial solvents. Planned production in units for the first three months of the coming year is: January 45,000 February 55,000 March 60,000 Each drum of industrial solvent takes 0.3 direct labor hours. The average wage is $17.40 per hour. Required: Prepare a direct labor budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Patrick Inc. Direct Labor Budget For the Coming First Quarter Direct Labor Budget: January February March Units to be produced Direct labor hrs per unit Total Total direct labor hrs Wage rate Direct labor cost Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January February 13,140 12,300 15,075 March The variable overhead rate is $0.60 per direct labor hour. Fixed overhead is budgeted at $2,690 per month. Required: Prepare an overhead budget for the months of January, February, and March, as well as the total for the first quarter. Do not include a multiplication symbol as part of your answer. Round total variable overhead and total overhead to the nearest dollar. Patrick Inc. Overhead Budget For the Coming First Quarter January February March Overhead: Total direct labor hrs Variable overhead rate s Total variable overhead Add: Fixed overhead Total overhead