Austin, Inc manufactures model airplane kits. Direct materials are four ounces of plastic per kit and the plastic costs $2 per ounce. Indirect materials are considered insignilicant and are not included in the budgeting process. Each kit requires 0.25 hours of direct labor at an averago cost of $22 per hour Manufacturing overhead is allocated using direct labor hours as the alocation base. The company has prepared the following budgots: (Click the icon to view the budgets) Austin projects sales of 300,100,450, and 700 kits for the next four quarters. Austin has no kits in beginning inventory Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two docimal places Austin, Inc. Direct Labor Budget For the Year Ended December 31 For the Year Ended December 31