Homer, Inc. manufactures model airplane kits and projects production at 400, 360, 550, and 300 kits for the next four quarters Click the icon to view the manufacturing information.) Prepare Homer'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 Homer's direct materials budget. Homer, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total 400 550 300 1610 360 5 5 5 5 5 2000 1800 2750 1500 8050 Budgeted kits to be produced Direct materials (ounces) per kit Direct materials needed for production Desired direct materials in ending Plus: inventory Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases as a decimal to two places, X.XX, and round all other amounts to the HI, C. Manudulures model airplane kits and projects production at 400, 360, 550, and 300 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Homer'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, 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.) Homer, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Direct labor hours needed for production Budgeted direct labor cost Prepare the manufacturing overheat budget. (Enter all costs and hours as a decimal to two places, X.XX. Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Homer, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Total Quarter Choose from any list or enter any number in the input fields and then continue to the next question. palerme U S Duugel, 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. LO LO LO LO 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.) Homer, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Fourth 30 15 Quarter Quarter Quarter Quarter Total 50 VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs 230 30 69 50 Direct labor hours Budgeted manufacturing overhead costs 19 Predetermined overhead allocation rate Choose from any list or enter any number in the input fields and then continue to the next question. 3:36 PM More Info Direct materials are 4 ounces of plastic per kit and the plastic costs $5 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 910 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production. Homer desires a balance of 290 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 $30 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.25 per kit, and fixed overhead is $125 per quarter. Print Done acturing overhead costs
