Austin, Inc, manufactures model airplane kits and projects production at 500, 270, 300, and 800 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number Austin, Inc Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter Third Fourth Quarter Quarter Direct materials (ounces) per kit Direct materials needed for production Plus: Total direct materials needed Less: Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases Jeudul Uuuye, G allialuny UVicau buuyen IUI U year. I UUU UIC Ull tullaVu TIUP lead allocation rate to two decimal places. Round other amounts to the nearest whole number. i More Info Direct materials are 6 ounces of plastic per kit and the plastic costs $2 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 920 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production. Austin desires a balance of 280 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.75 hours of direct labor at an average cost of $22 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.50 per kit, and fixed overhead is $125 per quarter. Print Done Austin, Inc, manufactures model airplane kits and projects production at 500, 270, 300, and 800 kits for the next four quarters. Click the icon to view the manufacturing information.) Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed fi overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number Prepare the direct labor budget. (Enter any hours as a decimal to two places, XXX, and round all other amounts to the nearest whole number.) Austin, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Direct labor hours needed for production Budgeted direct labor cost Austin, Inc. manufactures model airplane kits and projects production at 500, 270, 300, and 800 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter Third Quarter Fourth Quarter Total Budgeted kits to be produced Budgeted kits to be sold Desired direct materials in ending inventory Direct materials in beginning inventory Less: Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases Austin, Inc. manufactures model airplane kits and projects production at 500, 270, 300, and 800 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole ne Prepare the direct labor budget. (Enter any hours as a decimal to two places, X.XX, and round all other amounts to the nearest wi Austin, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Direct labor cost per hour Direct labor hours per unit Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours to overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. Prepare the direct labor budget. (Enter any hours as a decimal to two places, X.XX, and round all other amounts to the nearest whole number.) Austin, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Direct labor hours needed for production Direct labor cost per hour Direct labor hours per unit (Enter all costs and hours as a decimal to two places, X.XX. Abbreviations used: VOH variable mar Austin, Inc. Austin, Inc. manufactures model airplane kits and projects production at 500, 270, 300, and 800 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for p overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. Austin, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Quarter Quarter Fourth Third Quarter Quarter Total VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate
