Luther, Inc. manufactures model airplane kits and projects production at 300, 120, 400, and 450 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. Begin by preparing Luther's direct materials budget Luther, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter Fourth Third 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 purchases Prepare the direct labor budget. (Enter any hours as a decimal to two places, XXX, and round all other amounts to the nearest whole number.) Luther, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Quarter Total Fourth Choose from any list or enter any number in the input fields and then continue to the next question For the Year Ended December 31 - X More Info Jal fit du Direct materials are 3 ounces of plastic per kit and the plastic costs $5 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 950 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 220 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 $50 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 $160 per quarter. ma ce Print Done rials get. (Enter any hours as a decimal to two places, X.XX, and round all other amounts to the nearest whole ne Luther, Inc. Direct Materials Budget For the Year Ended December 31 Second Third First Quarter Quarter Quarte Budgeted kits to be produced Budgeted kits to be sold Desired direct materials in ending inventory Direct materials in beginning inventory Less: Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases Prepare the direct labor budget. (Enter any hours as a decimal to two places, X.XX, and round all oth Luther, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter c Direct materials (ounces) per kit Direct materials needed for production Plus: Total dit Budgeted kits to be produced Less Budgeted kits to be sold Budget: Desired direct materials in ending inventory Direct n Direct materials in beginning inventory Budgeted cost of direct materials purchases Prepare the direct labor budget. (Enter any hours as a decimal to two places, X.XX, and round all other amounts to the nearest wh Luther, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Direct materials needed for production Plus: Total direct materials needed Less: Budget Direct n Budgeted kits to be produced Budgeted kits to be sold Budget Desired direct materials in ending inventory Prepare Direct materials in beginning inventory two places, XX Luther, Inc. Direct Labor Budget For the Year Ended December 31 First Second TH Quarter Quarter Que Prepare the direct labor budget. (Enter any hours as a decimal to two places, XXX, and round all other amounts to the nearest whole number.) Luther, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Direct labor hours needed for production Budgeted direct labor cost Prepare the manufacturing overhead budget. (Enter all costs and hours as a decimal to two places, XXX. Abbreviations used: VOH = variable manufacturing Quarter Quarter Budgeted kits to be produced Budgeted kits to be sold Desired kits in ending inventory Kits in beginning inventory Prepare the manufacturing overhead budget. (Enter all costs and hours as a Choose from any list or enter any number in the input fields and then cor For the Year Ended First Quarter Direct labor cost per hour Direct labor hours per unit Duuyeucu unul TV UOL Prepare the manufacturing overhead budget. (Enter all costs and Choose from any list or enter any number in the input fields a Prepare the direct labor budget. (Enter any hours as a decimal to two places, XXX, and round all other amounts to the nearest whole number) Luther, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Direct labor hours needed for production ho Direct labor cost per hour Direct labor hours per unit (Enter all costs and hours as a decimal to two places, XXX. Abbreviations used: VOH - variable manufacturing Choose from any list or enter any number in the input felds and then continue to the next question Budgeted direct labor cost Prepare the manufacturing overhead budget Enter all costs and hours as a decimal to two places, XXX. Abbreviations used: VOH = variable manufacturing overhead: FOH = fixed manufacturing overhead) Luther, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter 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 Choose from any list or enter any number in the input fields and then continue to the next question Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Budgeted kits to be produced Budgeted kits to be sold Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate the infilds and then continue to the next