Homer, Inc. manufactures model airplane kits and projects production at 250, 530, 200, and 450 kits for the next four quarters. (Click the icon to view the manufacturing information.) r the year. Round the direct labor hours needed for production, budgeted overhead costs, and predetermined te to e decigal place Bound ofhr amounts to the nearest wbole 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 Direct materials (ounces) per kit Direct materials needed for production Plus: Total direct materials needed Less Budgeted purchases direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases the nearest Prepare the direct labor budget. (Enter any hours as a decimal to two places, XXX, and round all other amounts i More Info Homer, Inc. Direct Labor Budget Direct materials are 3 ounces of plastic per kit and the plastic costs $3 per ounce. For the Year Ended December 31 cBoooning Raw Materiale Inuentonyic 0s0 and the e budgeting desires to end each quarter with 30% of the materials needed for thE next quarter's production. Homer desires a balance of 260 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.50 hours of direct labor at an Second Third Fourth First Total Quarter Quarter Quarter Quarter abor boure as the allocation hase Variable overhead is S0 75 per kit and fixed overhead is $170 per quarter Direct labor hours needed for production Print Done 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 More Info For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Direct materials are 3 ounces of plastic per kit and the plastic costs $3 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 30 % of the materials needed for the next quarter's production. Homer desires a balance of 260 ounces in Raw Materials Inventory at VOH cost per kit Budgeted VOH average cost of $20 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.7 overhead is $170 per quarter. Budgeted FOH per kit, and fixed Budgeted manufacturing overhead costs Direct labor hours Print Done Budgeted manufacturing overhead costs Predetermined overhead allocation rate Choose from any list or enter any number in the input fields and then continue to the next