d costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number. g Wilber's direct ma More Info Direct materials are 5 ounces of plastic per kit and the plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 940 ounces, and the company desires to end each quarter with 20% of the materials needed for the next quarter's production. Wilber desires a balance of 220 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.25 hours of direct labor at an average cost of $20 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.90 per kit, and fixed overhead is $155 per quarter. De produced 70 5 ounces) per kit zeded for productid irect materials in el 50 20 Print Done als needed 70 940 620 200 500 940 terials in beginning inventory es of direct materials 930 2,680 1,300 2,220 7,130 3 3 3 $ 3 $ 3 Ost per ounce list or enter any number in the input fields and then click Check Answer Wilber, Inc. manufactures model airplane kits and projects production at 250, 620, 200, and 500 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Wilber'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 allocation rate to two decimal places. Round other amounts to the nearest whole number. Wilber, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 250 620 1,570 200 5 500 5 5 5 5 1,250 1,000 2,500 Direct materials (ounces) per kit Direct materials needed for production Plus: Desired direct materials in ending inventory Total direct materials needed 3,100 200 7,850 220 620 500 220 1,870 940 3,300 620 1,500 200 2,720 500 8,070 940 Less: Direct materials in beginning inventory Budgeted purchases of direct materials 930 2,680 1,300 2,220 7,130 $ 3 Direct materials cost per ounce $ 3 $ 2,790$ 8,040 $ 3,900 $ 6,660 21,390 Budgeted cost of direct materials purchases Choose from any list or enter any number in the input fields and then click Check Answer. ? Wilber, Inc. manufactures model airplane kits and projects production at 250, 620, 200, and 500 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Wilber'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 allocation rate to two decimal places. Round other amounts to the nearest whole number. Budgeted cost of direct materials purchases w 2,79 , JUU W V, Vuv w LIJIU Prepare the direct labor budget. (Enter any hours as a decimal to two places, X.XX, and round all other amounts to the nearest whole number.) Wilber, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Budgeted kits to be produced 250 620 200 500 1,570 Direct labor hours per unit 0.25 0.25 0.25 0.25 0.25 Direct labor hours needed for production 62.50 155.00 50.00 125.00 392.50 $ 20 Direct labor cost per hour $ 20 $ 20 $ 20 $ 20 $ 1,250 $ 3,100 || $ 1,000 $ 2,500 $ 7,850 Budgeted direct labor cost Prepare the manufacturing overhead budget. (Enter all costs and hours as a decimal to two places, X.XX. Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Wilber, Inc. manufactures model airplane kits and projects production at 250, 620, 200, and 500 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Wilber'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 allocation rate to two decimal places. Round other amounts to the nearest whole number. Wilber, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Quarter Quarter Third Fourth Quarter Quarter Total Budgeted kits to be produced 250 620 200 .90 500 .90 1570 .90 .90 .90 VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Choose from any list or enter any number in the input fields and then click Check
