Help please! Cannot figure this type of question out. Please give explanations!

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2 of 7 (3 complete) HW Score: 32.14%, 2.25 of 7 pts Score: 0 of 1 pt EM7-24 (similar to) Question Help Oliver, Inc. manufactures model airplane kits and projects production at 600, 450, 300, and 800 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Oliver'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. Begin by preparing Oliver's direct materials budget Oliver, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third More Info Fourth Quarter Quarter Total Quarter 450 Quarter 300|| Budgeted kits to be produced 800 800 2,150 Direct materials (ounces) per kit Direct materials needed for production Plus Desired direct materials in ending inventory Direct materials are five ounces of plastic per kit and the plastic costs $4 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 950 ounces, and the company desires to end each quarter with 30% of the materials needed for the next quarter's production. Oliver desires a balance of 260 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.75 hours of direct labor at an average cost of $30 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.70 per kit, and fixed overhead is $140 per quarter. Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials Direct materials cost per ounce Print Done Budgeted cost of direct materials purchases Choose from any list or enter any number in the input fields and then click Check Answer. 2 parts remaining Clear All Check Answer Type here to search BE 8 a 5:41 PM 3/26/2021