Cameron, Inc. manufactures model airplane kits. Direct materials are 5 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. Each kit requires 0.25 hours of direct labor at an average cost of $15 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: 9 Click the icon to view the budgets.) Cameron projects sales of 400, 200, 600, and 900 kits for the next four quarters. Cameron 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 decimal places. Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, $X.XX.) Total projected manufacturing cost per kit Cameron, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 600 5 530 5 650 5 700 5 2,480 5 Direct materials (ounces) per kit Direct materials needed for production 3,000 530 2,650 650 3,250 700 3,500 230 12,400 230 Plus: Desired direct materials in ending inventory Total direct materials needed 3,950 3,530 900 3,300 530 3,730 700 12,630 900 650 Less: Direct materials in beginning inventory Budgeted purchases of direct materials 2,630 5||$ 2,770 5||$ 3,300 5||$ 3,030 5||$ 11,730 5 $ Direct materials cost per ounce $ 13,150|| $ 13,850||$ 16,500 $ 15,150||$ 58,650 Budgeted cost of direct materials purchases Cameron, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 530 650 700 600 0.25 2,480 0.25 0.25 0.25 0.25 Direct labor hours per unit Direct labor hours needed for production 132.50 620.00 150.00 15||$ 162.50 15||$ 175.00 15||$ $ 15||$ 15 Direct labor cost per hour $ 2,250 $ 1,988$ 2,438$ 2,625 $ 9,300 Budgeted direct labor cost Cameron, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 600 530 0.70||$ 650 0.70||$ 700 0.70||$ 2,480 0.70 $ 0.70||$ VOH cost per kit Budgeted VOH $ 420.00||$ 155.00 371.00||$ 155.00 455.00||$ 155.00 490.00||$ 155.00 1,736.00 620.00 Budgeted FOH $ 575.00||$ 526.00||$ 610.00||$ 645.00||$ 2,356.00 Budgeted manufacturing overhead costs Direct labor hours 150.00 132.50 162.50 175.00 620.00 Budgeted manufacturing overhead costs $ 2,356.00 3.80 $ Predetermined overhead allocation rate