The production budget for manner company shows units to be produced as follows: july, 620; august, 680; and september, 540. each unit produced requires two hours of direct labor. the direct labor rate is currently $20 per hour but is predicted to be $21 per hour in september. prepare a direct labor budget for the months july, august, and september.

Mikkelson corporation's stock had a required return of 12.50% last year, when the risk-free rate was 3% and the market risk premium was 4.75%. then an increase in investor risk aversion caused the market risk premium to rise by 2%. the risk-free rate and the firm's beta remain unchanged. what is the company's new required rate of return? (hint: first calculate the beta, then find the required return.) do not round your intermediate calculations.