Cameron, Inc. manufactures model airplane kits and projects production at 500, 420, 250, and 350 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Cameron's direct materials budget direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for pro two decimal places. Round other amounts to the nearest whole number. Begin by preparing Cameron's direct materials budget Cameron, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total 500 420 250 1520 350 4 4 4 4 2000 1680 1000 1400 Budgeted kits to be produced Direct materials (ounces) per kit Direct materials needed for production Pius: Desired direct materials in ending inventory Total direct materials needed Lose: Direct materials in beginning inventory Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases on at 500, 420, 250, and 350 kits for the next four quarters. manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhe - More info eg Direct materials are six ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 870 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production. Cameron desires a balance of 220 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 $20 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.40 per kit, and fixed overhead is $160 per quarter. ter 20 Print Done