Prepare a direct materials purchases budget for chips, by quarter and in total, for year 2. At the bottom of your budget, show the dollar amount of purchases for each quarter and for the year in total. EXERCISE 9-4 Direct Labour Budget [L02] The manufacturing division manager of Davison Enterprises has submitted the following production forecast (in units) for each quarter of the next fiscal year. The plant produces seats for motorcycles: First Second Third Fourth Quarter Quarter Quarter Quarter D000 8800 9800 Each unit requires 0.50 direct labour-hours, and employees are paid $15 per hour. Required: 1. Prepare the company's direct labour budget for the upcoming fiscal year, assuming that the direct labour workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units. 2. Prepare the company's direct labour budget for the next fiscal year, assuming that the direct labour workforce is not adjusted each quarter. Instead, assume that the company's direct labour workforce consists of permanent employees who are guaranteed to be paid for at least 4,500 hours of work each quarter. If the number of required direct labour-hours is less than this number, the workers are paid for 4,500 hours anyway. Any hours worked in excess of 4,500 hours in a quarter are paid at a rate of 1.5 times the normal hourly rate for direct labour. EXERCISE 9-5 Manufacturing Overhead Budget [LO2] The direct labour budget of Small Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labour-hours