Austin, Inc. manulactures model airplane kits and peojects production at 550,620,600, and 800 kits for the noxt four quarters Click the icon to view the manulacturing inlormation.) Prepare Austin's direct materials budgot, direct labor budget, and manutacturing overhead budget for the yoar. Round the direct labor hours noeded for production, budgeted everhead 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. More info Direct materials are three 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 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 300 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 $20 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.30 per kit, and fixed overhead is $175 per quarter