compeny desiras to end each quarter with 20%% o1 the materials needed tor the next quarter's production. Grady desres a balance ot S300 in Haw Materials Im entory at the end ot the touth quarter. Each ka requres 0 25 hours ot direct labor at an avarage coet ot 520 per hour Manutactunna rverhead 5 alocate d leurg direct labar hours as the alncaton base Vannbe nverhead s S 5 per kit and fixed averhead s S179 per quarter Frepare Grady's direct materigle buiget, direct labor bucget, and manufacturing ovenead bucget for the year Round the cirect laber hours needed for production, budgeted cvertead coets, and predecermined ove head lccaonrte to two decimal place:s Begin by propanng Grady's direct materials budget Grady, Inc Direct Materials Budget For the Year Ended December 31 First SecondThird Fourth Quarter Quarter Quarter Budgetor lots to be produced Direct materals cost par unt Direct maler ials needed for productiun Flus: Desired direct maletials in ending irventory 425 450 1,725 2,1002550 2,70030001350 Less: Direct maler ials in Leginring inverilry of direest materials compeny desiras to end each quarter with 20%% o1 the materials needed tor the next quarter's production. Grady desres a balance ot S300 in Haw Materials Im entory at the end ot the touth quarter. Each ka requres 0 25 hours ot direct labor at an avarage coet ot 520 per hour Manutactunna rverhead 5 alocate d leurg direct labar hours as the alncaton base Vannbe nverhead s S 5 per kit and fixed averhead s S179 per quarter Frepare Grady's direct materigle buiget, direct labor bucget, and manufacturing ovenead bucget for the year Round the cirect laber hours needed for production, budgeted cvertead coets, and predecermined ove head lccaonrte to two decimal place:s Begin by propanng Grady's direct materials budget Grady, Inc Direct Materials Budget For the Year Ended December 31 First SecondThird Fourth Quarter Quarter Quarter Budgetor lots to be produced Direct materals cost par unt Direct maler ials needed for productiun Flus: Desired direct maletials in ending irventory 425 450 1,725 2,1002550 2,70030001350 Less: Direct maler ials in Leginring inverilry of direest materials