Luther, Inc. manufactures model airplane kits and projects production at 200, 450, 300, and 750 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Luther'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. Direct materials (ounces) per kit Direct materials needed for production Plus: Total direct materials needed Less: Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total