Luther, Inc. manufactures model airplane kits. Direct materials are 7 ounces of plastic per kit and the plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.75 hours of direct labor at an average cost of $25 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: (Click the icon to view the budgets.) Luther projects sales of 200, 100, 600, and 550 kits for the next four quarters. Luther has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places. Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, $X.XX.) Reference Direct labor cost per kit Direct materials cost per kit Manufacturing overhead cost per kit Selling price per kit Luther, Inc. Direct Materials Budget First Quarter For the Year Ended December 31 Second Third Fourth Quarter Quarter Quarter Total Budgeted kits to be produced 300 220 400 350 1,270 7 7 7 7 7 Direct materials (ounces) per kit Direct materials needed for production 2,100 1,540 2,800 2,450 8,890 Plus: Desired direct materials in ending inventory Total direct materials needed 308 560 490 210 210 2,408 2,100 3,290 2,660 9,100 900 308 560 490 900 Choose from any list or enter any number in the input fields and ther Less: Direct materials in beginning inventory Budgeted purchases of direct materials 1,508 1,792 2,730 2.170 8,200 $ Help Me Solve This DemoDocs Example Get M Direct materials cost per ounce $ 3 $ 4,524 $ 3 $ 5,376 $ 3 $ 3 $ 3 ck Answer 8,190 $ 6,510 $ 24,600 Budgeted cost of direct materials purchases Luther, Inc. Luther, Inc. manufactures model airplane kits. Direct materials are 7 ounces of plastic per kit and the plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in the budgeting p hours of direct labor at an average cost of $25 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: (Click the icon to view the budgets.) Luther projects sales of 200, 100, 600, and 550 kits for the next four quarters. Luther has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sol amounts to two decimal places. Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, SX.XX.) Direct labor cost per kit Direct materials cost per kit Manufacturing overhead cost per kit Selling price per kit Reference Luther, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Choose from any list or enter any number in the inpu Help Me Solve This DemoDocs Exam Budgeted kits to be produced Direct labor hours per unit 3001 220 400 350 1,270 0.75 0.75 0.75 0.75 0.75 Direct labor hours needed for production Direct labor cost per hour 225.00 165.00 300.00 262.50 952.50 $ 25 $ $ 5,625 $ 25 $ 4,125 S 25 S 7,500 $ 25 $ 25 6,563 $ 23,813 Budgeted direct labor cost Luther, Inc. manufactures model airplane kits. Direct materials are 7 ounces of plastic per kit and the plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Each kit requires 0.75 hours of direct labor at an average cost of $25 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the following budgets: (Click the icon to view the budgets.) Luther projects sales of 200, 100, 600, and 550 kits for the next four quarters. Luther has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places. Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal places, SX.XX.) Reference S 5,625 $ 4,125 $ 7,500||$ 6,563||$ 23,813 Total projected manufacturing cost per kit Budgeted direct labor cost Luther, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total Budgeted kits to be produced 300 $ 0.50||$ 220 0.50 $ 400 0.50 $ 350 1,270 0.50 $ 0.50 VOH cost per kit Budgeted VOH $ 150.00 $ 110.00 $ 175.00 175.00 200.00 $ 175.00 Budgeted FOH 175.00 $ 175.00 635.00 700.00 $ 325.00 $ 285.00 $ 375.00 $ 350.00 $ 1,335.00 Choose from any list or enter any number in the input fields and the Budgeted manufacturing overhead costs Help Me Solve This DemoDocs Example Get N Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 225.00 165.00 300.00 262.50 952.50 ack Answer $ 1,335,00 $ 1.40