Homework: Chapter 22 Exercises Sign Out Sign Out HW Score: 47.06%, 8 of 17 pts 15 of 15 (8 completo) Score: 0 of 3 pts counting E22-24 (similar to) Question Help Austin, Inc, manufactures model airplane kits and projects production at 150, 620, 550, and 350 kits for the next four quarters (Click the icon to view the manufacturing information) roduction, Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole number Direct Materials Budget For the Year Ended December 31 First Second Fourth Third Quarter Quarter Quarter Quarter Total Chapter 22 Direct materials (ounces) per kit Direct materials needed for production Plus Total direct materials needed correct: 0 Less: Budgeted purchases of direct materials 7/1) Direct materials cost per ounce Budgeted cost of direct materials purchases Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All Check Answer 24 tv 9 Menu Austin, Inc, manufactures model airplane kits and projects production at 150, 620, 550, and 350 kits for the next four quarters. (Click the icon to view the manufacturing Information.) Prepare Austin's direct materials budget, direct labor budget, and manufacturing overhead budget for the year.Rd the direct labor ho budgeted overhead costs, and predetermined overhead allocation rate to two decimal places. Round other amounts to the nearest whole aments mework Quiz/Test Begin by preparing Austin's direct me * More Info Direct materials are 6 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 860 ounces, and the company desires to end each quarter with 30% of the materials needed for the next quarter's production. Austin desires a balance of 210 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 $55 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.90 per kit, and fixed overhead is $125 per quarter. Direct materials (ounces) per kit Direct materials needed for productid Plus: Total direct materials needed Less: Budgeted purchases of direct materials Print Done Choose from any list or enter any number in the input fields and then click Check Answer. 2 Pernaining Clear All