Rida, Inc., a manufacturer in a seasonal industry, is preparing its direct materials budget for the second quarter. It plans production of 241,000 units in the second quarter and 53,500 units in the third quarter. Raw material inventory is 84,350 pounds at the beginning of the second quarter. Other information follows: Direct materials Each unit requires 0.70 pounds of raw material, priced at $176 per pound. The company plans to end each quarter with an ending inventory of materials equal to 50% of next quarter's budgeted materials requirements. Prepare a direct materials budget for the second quarter. (Enter "per unit" answers in two decimal places.) RIDA INC. Direct Materials Budget Second Quarter Units to be produced 241,000 units Materials needed for production (pounds) Total materials requirements (pounds) Materials to be purchased unds) Budgeted cost of direct materials purchases Addison Co. budgets production of 2,800 units during the second quarter. Other information is as follows: Direct labor Variable overhead Fixed overhead Each finished unit requires 4 direct labor hours, at a cost of $8 per hour. Applied at the rate of $10 per direct labor hour. Budgeted at $590,000 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. Required 1 Required 2 Prepare a direct labor budget. ADDISON CO. Direct Labor Budget Second Quarter Units to be produced 2,800 units Total labor hours needed Budgeted direct labor cost Required 1 Required 2. Prepare a factory overhead budget. ADDISON CO. Factory Overhead Budget Second Quarter Total labor hours needed Budgeted variable overhead Budgeted fixed overhead Budgeted total overhead