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Exercise 20-13 (Algo) Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Company budgets production of 2,780 units during the second quarter. Information on its direct labor and its variable and fixed overhead is as follows: Direct labor Each finished unit requires 6 direct labor hours, at a cost of $7 per hour. Variable overhead Budgeted at the rate of $9 per direct labor hour. Fixed overhead Budgeted at $570,000 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. Prepare a direct labor budget. fixed overhead is as follows: Direct labor Each finished unit requires 6 direct labor hours, at a cost of $7 per hour. 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. Direct labor Each finished unit requires 6 direct labor hours, at a cost of $7 per hour. Variable overhead Budgeted at the rate of $9 per direct labor hour. Fixed overhead Budgeted at $570,000 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. Prepare a factory overhead budget