Luther, Inc. manufactures model airplane kits and projects production at 550, 450, 400, and 300 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 CCS-54 (millar to) ther, Inc. manufactures model airplane kits and projects production at 550, 450, 400, and 300 kits for the next four quarters. (Click the icon to view the manufacturing information.) epare Luther's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor sts, 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 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 of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchase Choose from any list or enter any number in the input fiel d then click Check Answer. P parts Clear All ning Direct Labor Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Direct labor hours needed for production Budgeted direct labor cost Manufacturing Overhead Budget For the Year Ended December 31 First Second Quarter Quarter Fourth Third Quarter Quarter Total VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 1 of 5 (5 complete) , 450, 400, and 300 kits for the next four quarters. uring overhead budget for the year. Round the direct labor hours needed for production * More Info Direct materials are 5 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 890 ounces, and the company desires to end each quarter with 20% of the materials needed for the next quarter's production. Luther desires a balance of 280 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 $0.25 per kit, and fixed overhead is $140 per quarter. Print Done en click Check Answer. Clear All Sex PW NG