Carlton, Inc. manufactures model airplane kits. Direct materials are seven 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. Each kit requires 0.25 hours of direct labor at an average cost of $35 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.) Carlton projects sales of 200, 100, 200, and 100 kits for the next four quarters. Carlton 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, $X.XX.) Total projected manufacturing cost per kit Prepare a cost of goods sold budget for the year. (Complete all input fields. Enter "O" for zero balances.) Carlton, Inc. Cost of Goods Sold Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Kits produced and sold Total budgeted cost of goods sold Carlton, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Budgeted kits to be produced 250 360 650 550 1,810 7 7 7 7 7 1,750 2,520 4,550 3,850 12,670 504 910 770 230 230 Direct materials (ounces) per kit Direct materials needed for production Plus: Desired direct materials in ending inventory Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials 2,254 3,430 5,320 4,080 12,900 920 504 910 770 920 2,926 4,410 3,310 11,980 1,334 1||$ 1||$ 1|| $ 1||$ 1 Direct materials cost per ounce Budgeted cost of direct materials purchases 1,334 $ 2,926||$ 4,410||$ 3,310 $ 11,980 Carlton, Inc. Direct Labor Budget For the Year Ended December 31 Carlton, Inc. manufactures model airplane kits. Direct materials are seven 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. Each kit requires 0.25 hours of direct labor at an average cost of $35 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.) Carlton projects sales of 200, 100, 200, and 100 kits for the next four quarters. Carlton 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, $X.XX.) Total projected manufacturing cost per kit Prepare a cost of goods sold budget for the year. (Complete all input fields. Enter "O" for zero balances.) Carlton, Inc. Cost of Goods Sold Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Kits produced and sold Total budgeted cost of goods sold Carlton, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Budgeted kits to be produced 250 360 650 550 1,810 7 7 7 7 7 1,750 2,520 4,550 3,850 12,670 504 910 770 230 230 Direct materials (ounces) per kit Direct materials needed for production Plus: Desired direct materials in ending inventory Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials 2,254 3,430 5,320 4,080 12,900 920 504 910 770 920 2,926 4,410 3,310 11,980 1,334 1||$ 1||$ 1|| $ 1||$ 1 Direct materials cost per ounce Budgeted cost of direct materials purchases 1,334 $ 2,926||$ 4,410||$ 3,310 $ 11,980 Carlton, Inc. Direct Labor Budget For the Year Ended December 31