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omework: Chapter 22 Dre: 0 of 5 pts 2 of 5 (1 complete) HW Score: 20% 22-24 (book/static) Question Brady, Inc manufactures model airplane kits and projects production at 650, 500, 450, and 600 kits for the next four quarters (Click the icon to view the manufacturing information.) Prepare Grady's direct materials budget direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for produ budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. Grady, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total 650 500 450 Budgeted kits to be produced 600 22001 Direct materials (ounces) per kit 65 50 45 220 Direct materials needed for production Plus Total direct materials needed 4 4 60 Less Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases Choose from any list of enter any number in the input fields and then click Chock Answer Chook Arome Clour All parts WUNS to the ne i More Info hos Direct materials are 4 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 850 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production. Grady desires a balance of 200 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.10 hours of direct labor at an average cost of $10 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.20 per kit, and fixed overhead is $165 per quarter. cia ITO Print Done cerid purchases number in the input fields and then click Check