u LO7-Budget Assignment Seved Help Save & Exit Submit 3 Exercise 7-5 Preparing Direct Labour and Manufacturing Overhead Budgets (LO2-CC8,9) 8 points The production department of Raredon Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: Ist 2nd 3rd 4th Quarter Quarter Quarter Quarter Units to be produced 23,000 27.000 26,808 23,000 Each unit requires 14 direct labour-hours, and direct labour-hour workers are paid $21 per how In addition, the variable manufacturing overhead rate is $1.30 per direct inbour-hour. The food manufacturing overhead is $162.000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $46,000 per quarter. Book Perit 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 produced. References RAREDON CORPORATION Direct Labour Budget 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total direct labour hours needed Total direct labour cost 2. Prepare the company's manufacturing overhead budget natin