Cameron, Inc. manufactures model airplane kits. Direct materials are three ounces of plastic per kit and the plastic costs $2 per ounce Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.50 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: (Click the icon to view the budgets.) Cameron projects sales of 200, 300, 400, and 700 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, $XXX.) 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 250 530 150 350 1.280 Direct materials (ounces) per kit 3 3 3 3 3 Direct materials needed for production 750 1.590 450 1,050 3,040 Plus: Desired direct materials in ending inventory 159 45 105 220 220 Total direct materials needed 909 1,635 555 1,270 4.060 900 159 45 105 900 Less: Direct materials in beginning inventory Budgeted purchases of direct materials Direct materials cost per ounce 9 1.476 510 1,165 3,160 $ 25 2$ 2 S 25 $ 18 $ 2,952 S 1,020 S 2,330 $ 6,320 Budgeted cost of direct materials purchases Cameron, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quartet Quarter Total Ito are Direct Labor Budget For the Year Ended December 31 er First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 250 530 150 350 1,280 Direct labor hours per unit 0.50 0.50 0.50 0.50 0.50 ern Direct labor hours needed for production 125.00 265.00 75.00 175.00 640.00 $ 15 S 15 S 15 S 15 $ 15 Direct labor cost per hour 1,875 $ 3,975 $ 1,125 $ 2,625 $ 9.600 Budgeted direct labor cost Cameron, Inc. tal Manufacturing Overhead Budget For the Year Ended December 31 First Quarter Second Third Quarter Quarter Fourth Quarter Total Budgeted kits to be produced 250 530 150 S 0.30 $ 0.30 $ 350 350 1,280 0.30 $ 0.30||$ 0.30 VOH cost per kit Budgeted VOH S 75.00 $ 159.00 $ 45.00 S 105.00 $ 384.00 135.00 135.00 135.00 135,00 540.00 Budgeted FOH $ 210.00 $ 294.00 $ 180.00 $ 240.00 $ 924.00 Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 125.00 265.00 75.00 175.00 $ ss 640.00 924.00 1.44