15 of 15 (14 complete Bore: 0 of 3 pts 22-24 (similar to) Question Help ustin, Inc., manufactures model airplane kits and projects production at 160, 620, 550, and 350 kits for the next four quarters Click the icon to view the manufacturing information) Prepare Austins direct material budget director budget and manufacturing overhead budget for the year Round the direct labor hours needed for production budgeted overhead costs, and pretermined overhead allocation rate to two decimal places. Round the amounts to the nearest whole number More info Begin by preparing Austin's direct materials budget. Austin, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter Third Quarter Fourth Quarter Total Direct materials are 6 ounces of plastic per kit and the plastic costs $4 per Ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 16 ounces, and the company desires to and each quarter with 30% of the material needed for the next quarter's production Austin desires a balance of 210 ounces in Raw Materials Inventory the end of the fourth quarter. Each it requires 0.50 hours of direct laboratan wverage cost of $5 per hour. Manufacturing overhead is located using direct labor hours as the location base. Variable overhead is 500 per kit, and feed overhead is $125 per quarter. Det materials founces)perkt Direct materials needed for production Total direct materials needed Print Done Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases Choose from any list or enter any number in the input fields and then click Check Answer Check Anwer parts Clear Al