Austin, Inc. manufactures model airplane kits and projects production at 200, 530, 400, and 650 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 Begin by preparing Austin's direct materials budget Austin, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter Third Fourth Quarter Quarter Total 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 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 Fourth Quarter Quarter Quarter Quarter Total Choose from any list or enter any number in the input fields and then continue to the next question 2 odel airplane kits and projects production at 200, 530, 400, and 650 kits for the next four quarters ne manufacturing information.) Erials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor nd predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest who direct materials budget Austin, Inc. Direct Materials Budget For the Year Ended December 31 More Info - X kit roductie Direct materials are 7 ounces of plastic per kit and the plastic costs $5 per ounce Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 900 ounces, and the company desires to end each quarter with 30% of the materials needed for the next quarter's production. Austin desires a balance of 230 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.50 hours of direct labor at an average cost of $35 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0 90 per kit and fixed overhead is $135 per quarter. materi ials pul Print Done et. (Enter any hours as a decimal to two places, X.XX, and round all other amounts to the nearest Whole nu Austin, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total any number in the input fields and then conahue to the next duestion