Direct Labor Cost Budget Direct labor needs from the direct labor cost budget should be coordinated between the production and personnel departments so that there will be enough labor available for production. Before you make any changes to the budget, you review the information on the following Direct Labor Data Table and enter the units to be produced from the Production Budget. After scanning the Direct Labor Cost Budget (which follows the Direct Labor Data Table), you observe that LeamCo has omitted quite a few numbers from the budget. Fill in the missing amounts. You may need to use numbers from the Direct Labor Data Table, or from the sales budget, production budget, and direct materials purchases budget you prepared. When required, round your answers to the nearest dollar. Direct Labor Data Table \begin{tabular}{l|l|l|l|} \hline Gluing Assembly \\ \hline \end{tabular} Hours required per unit: Basic abacus Deluxe abacus Labor hourly rate: Gluing $11 Assembly Units to be produced (from Production Budget): Basic abacus Deluxe abacus LearnCo Direct Labor Cost Budget For the Year Ending December 31, 20Y2 \begin{tabular}{|l|l|l|l|} \hline & Gluing & Assembly & Total \\ \hline Hours regtared for production \end{tabular} Basic abacus Deluxe abacus Total Hourly rate Total direct labor cost LearnCo manufactures and sells one product, an abacus for dassroom use, with two models, the Basic model and the Deluxe model. The company began operations on January 1, 20Y1, and is planning for 20Y2, its second year of operations, by preparing budgets from its master budget. The company is trying to decide how many units to manufacture, how much it might spend on direct materials and direct labor, and what their factory overhead expenses might be. In addition, the company is interested in budgeting for selling and administrative costs, and in creating a budgeted income statement showing a prediction of net income for 20Y2. You have been asked to assist the controller of Leamco in preparing the 20Y2 budgets. Sales Budget The sales budget often uses the prior year's sales as a starting point, and then sales quantities are revised for various factors such as planned advertising and promotion, projected pricing changes, and expected industry and general economic conditions. Learnco has completed reviewing its prior year's sales and has prepared the following sales budget. After reviewing LearnCo's sales budget, you note that three numbers have been omitted. The companys controller has told you that the units sold for the Basic and Deluxe models are expected to be the same. Fil in the missing amounts. Production Budget The production budget should be integrated with the sales budget to ensure that production and sales are kept in balance during the year: The production budget estimates the number of units to be manufactured to meet budgeted sales and desired inventory levels. You note that LeamCo has omitted six numbers from the following production budget and fill in the missing amounts. You may need to use numbers from the sales budget you prepared