Exercise 8-16 (Algo) Direct Materials and Direct Labor Budgets (LO8-4, LO8-5) The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year Units to be produced 2st Quarter 18,000 2nd Quarter 21,000 3rd Quarter 20.000 4th Quarter 19.000 In addition, 27000 grams of raw materials inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter is $7.400 Each unit requires 6 grams of raw material that costs $1.40 per gram Management desires to end each quarter with an inventory of raw materials equal to 25% of the following quarter's production needs. The desired ending inventory for the 4th Quarter is 7,000 grams. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter . Each unit requires 0.40 direct labor-hours and direct laborers are paid $14.50 per hour Required: 182. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 1st 2nd 3rd 4th Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 Req4 Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 1st 2nd 3rd 4th Quarter Quarter Quarter Quarter Year Estimated grams of raw material to be purchased Cost of raw materials to be purchased Req3 > Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Req 4 Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. Ist 2nd 3rd 4th Quarter Quarter Quarter Quarter Year Total cash disbursements for materials Req 1 and 2 Req 3 Req 4 Calculate the estimated direct labor cost for each quarter and for the year as a whole. (Round "Direct labor-hours per unit and "Direct labor cost per hour answers to 2 deomal places.) 2nd 3rd 4th Quarter Quarter Quarter Quarter Year Total direct labor cost 1st