Exercise 8-16 Direct Materials and Direct Labor Budgets (L08-4, 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 Ist Quarter 17,000 2nd Quarter 20,000 3rd Quarter 19,000 th Quarter 10,000 Units to be produced 1302 In addition, 21,250 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 $7,200 Each unit requires 5 grams of raw material that costs $120 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 8,000 grams. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter. Each unit requires 0.20 direct labor-hours and direct laborers are paid $13.50 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. Assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the estimated number of units produced Required: 1.82. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarta 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. Assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the estimated number of units produced Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Cartulate 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 Quarter 3rd Quarter 4th Quarter Quarter Year Estimated grams of raw material to be purchased Cost of raw materials to be purchased Reg 3 > Required: 1.&2. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for ea 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. Assume that the direct labor workfc adjusted each quarter to match the number of hours required to produce the estimated number of units produced. 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. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total cash disbursements for materials Required: 1.&2. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases fo 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. Assume that the direct labor won adjusted each quarter to match the number of hours required to produce the estimated number of units produced Complete this question by entering your answers in the tabs below. Req 1 and 2 Req3 eg 4 Calculate the estimated direct labor cost for each quarter and for the year as a whole. Assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the estimated number of units produced. (Round "Direct labor-hours per unit" and "Direct labor cost per hour" answers to 2 decimal places.) 4th 1st Quarter 2nd Quarter 3rd Quarter Quarter Year Total direct labor cost Req3