Preparing an Overhead Budget Patrick Inc. makes industrial solvents. Budgeted direct labor hours for the first 3 months of the coming year are: January February March The variable overhead rate is $0.80 per direct labor hour. Fixed overhead is budgeted at $2,980 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 13,140 12,300 15,075 overhead and total overhead to the nearest dollar. Patrick Inc. Overhead Budget For the Coming First Quarter January February March Total Total direct labor hrs Variable overhead rate 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 Overhead January February March Total Total direct labor hrs Variable overhead rate Total variable overhead Add: Fixed overhead Totai overhead