Direct materials are six 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. Beginning Raw Materials Inventory is 920 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production. Wilber desires a balance of 270 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.50 hours of direct labor at an average cost of $50 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.75 per kit, and fixed overhead is $160 per quarter.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. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total 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 Answer.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 Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 450 420 550 300 1,720 Direct labor hours per unit 0.50 0.50 0.50 0.50 0.50 Direct labor hours needed for production 225.00 210.00 275.00 150.00 860.00 Direct labor cost per hour 50 $ 50 $ 50 $ 50 $ 50 Budgeted direct labor cost 11,250 $ 10,500 $ 13,750 $ 7,500 $ 43,000