Carlton, Inc manufactures model airplane kits Direct materials are four 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 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. The company has propared the following budgets (Click the icon to view the budgets.) Carlton projects sales of 300, 100,700 and 100 kits for the next four quarters Carlton has nokits 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 placen, $XXX) Total projected manufacturing cost per kit Carlton, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total 350 360 600 700 2,010 4 4 4 Budgeted kits to be produced Direct materials (Ounces) per kit Direct materials needed for production Plus: Desired direct materials in ending inventory Total direct materials needed Less: Direct materials in beginning inventory 1,400 288 1.440 480 2.400 560 2,800 280 8,040 280 1 688 900 1920 288 2.960 480 3.080 560 8,320 900 Print Done Reference Budgeted purchases of direct materials 788 1.632 2,480 2.520 7.420 Direct materials cost per ounce 5$ 5 5 5$ 5 s 5 $ Budgeted cost of direct materials purchases 3,940$ 8.160 $ 12.400 12,600 37 100 Carlton, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 350 A 360 600 700 2010 0.50 0.50 0.50 050 Direct labor hours per unit Direct labor hours needed for production 175.00 180.00 300.00 350.00 1.005.00 0.50 Print Done Reference - X or id the c 2,010 0.50 ton mo 1.005.00 20 20,100 erm Budgeted kits to be produced 350 360 600 700 Direct labor hours per unit 0.50 0.50 0.50 0.50 Direct labor hours needed for production 175 00 180.00 300.00 350.00 Direct labor cost per hour $ 20 $ 2015 201$ 20$ Budgeted direct labor cost 3.500 5 3.600 S 6,000 $ 7.000 $ Carlton, Inc. Manufacturing Overhead Budget For the Year Ended December 31 Secod Third Fourth Quarter Quarter Quarter Quarter Budgeted kits to be produced 350 360 600 700 First tal Total 2010 005 Print Done Hells III Reference - X sitor sid arhe First Second Third Fourth cturing Quarter Quarter Quarter Quarter Total altor mo 350 0.40 $ 360 0.40 $ 600 0.405 700 0405 2010 0.40 cture $ Budgeted kits to be produced VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs S etern 140.00 $ 135.00 144.00 $ 135 00 240.00 $ 135 00 280.00 $ 135.00 80400 540,00 $ 275.00 5 279.00 : 5 37500 5 415.00 $ 1 344.00 175.00 180.00 300.00 350 00 1,00500 stali Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate $ 134400 1.34 $ soos Pnnt Done