The production department of Raredon Corporation has submitted the following for

The production department of Raredon Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year:Units to be produced 12000 1st quarter14000- 2nd quarter13000- 3rd quarter11000- 4th quarterEach unit requires 0.70 direct labor-hours and direct labor-hour workers are paid $10.50 per hour. In addition the variable manufacturing overhead rate is $1.50 per direct labor-hour. The fixed manufacturing overhead is $80000 per quarter. The only noncash element of manufacturing overhead is depreciation which is $22000 per quarter.Required:Prepare the companys direct labor budget for the upcoming fiscal year assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.Prepare the companys manufacturing overhead budget.