Homer, Inc: manulactures model airplane kits and projects production at 350,360,550, and 400kzs for the next four quarters. (.) (Click the icon to view the inamufacturing information.) Prepare Homer's direct materiats budget, Grect labor budget, and manufacturing overhead budget for the yoar. Round the direct labor hours needed for production, budgeted wepare Homes's costs, and predetermined everhead alocation rate to two decimal places. Round other amounts to the nearest whole number. Ronin tw neenarina Homers direct materiak budget. More info Direct materials are seven ounces of plastic per kit and the plastic costs $2 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 880 ounces, and the company desires to end each quarter with 20% of the materials needed for the next quarter's production. Homer desires a balance of 210 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.25 hours of direct labor at an average cost of $15 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.75 per kit, and fixed overhead is $155 per quarter