Carlton Inc. manufactures model airplane kits and projects production at 550, 600, 200, and 500 kits for the next four quarters (Click the icon to view the manufacturing information.) Prepare Carlton's direct materials budget direct labor budget and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs and predetermined overhead a location rate to two decimal places. Round other amounts to the nearest whole number Begin by preparing Carton's direct materials budgct. Carlton, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter i More Info Third Fourth Quarter Quarter Total Budgeted kits to be produced 200 Direct materials (ounces) per kit Direct materials needed for production Plus Desired direct materials in ending inventory Direct matcrials are 6 ounces of plastic per kit and the plastic costs $2 per ounce Indirect materials are considered insignificant and are not induded in the budgeting process. Beginning Raw Materials Inventory is 910 Ounces, and the company desires to end each quarter with 20% of the materials needed for the next quarter's production Carton desires a balance of 220 ounces in Raw Matenals Inventory at the end of the fourth quarter Each kit requires 0 50 hours of direct labar at an average cost of $15 per hour Manufacturinn verhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.75 per kit, and fed Overhead is $140 per quarter. Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials Direct materials cast per unce Budiyeled cost of direct materials purchases Print Done