Carlton, Inc. manufactures model airplane kits. Direct materials are six ounces of plastic per kit and the plastic costs $4 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 $45 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 300, 100, 500, and 550 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. - -X Reference Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, $X.XX.) Carlton, Inc. Direct Materials Budget For the Year Ended December 31 First Second Total projected manufacturing cost per kit Third Fourth Quarter Quarter Quarter Quarter Total 1,560 350 6 6 360 6 300 6 550 6 6 2.100 1,800 2,160 360 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 Budgeted purchases of direct materials 3,300 220 9,360 220 432 660 2,532 2,520 432 2,460 360 3,520 660 9,580 940 940 8,640 1,592 45 2,088 45 2,100 4 $ 2,860 45 S 4 Direct materials cost per ounce $ 6,368 $ 8,352||$ 8,400 $ 11.440S 34.560 Budgeted cost of direct materials purchases Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 350 360 300 550 1,560 Direct labor hours per unit 0.50 0.50 0.50 0.50 0.50 Direct labor hours needed for production 175.00 180.00 150.00 275.00 780.00 Direct labor cost per hour 45 $ 45$ 45$ 45$ 45 $ 7,875 $ 8,100 $ 6,750 $ 12,375$ 35,100 Budgeted direct labor cost Carlton, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 350 360 300 550 1,560 0.80 $ VOH cost per kit 0.80 $ 0.80 $ 0.80$ 0.80 Budgeted VOH 280.00 $ 288.00 $ 240.00 $ 440.00 $ 1,248.00 140.00 140.00 Budgeted FOH 140.00 140.00 560.00 $ 420.00 $ 428.00 $ 380.00 $ 580.00 $ 1,808.00 Budgeted manufacturing overhead costs 175.00 180.00 150.00 275.00 780.00 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 1,808.00 2.32 $