More Info Direct materials are six 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 920 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production. Homer desires a balance of 240 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 $15 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0 60 per kit, and fixed overhead is $140 per quarter. Print Done list or enter any number in the input fields and then click Check Answer mer, Inc manufactures model airplane kits and projects production at 550, 680, 250, and 450 kits for the next four quarters (Click the icon to view the manufacturing information) espare Homer's direct materials budget direct labor budget, and manufacturing overhead budget for the year Round the direct or hours needed for production, budgeted overhead costs, and predetermined overhead allocation rate to two decimal places sound other amounts to the nearest whole number Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Total Budgeted kits to be produced 250 450 1930 Direct materials (ounces) per kit Direct materials needed for production In... Choose from any list or enter any number in the input fields and then click Check Answer. Quarter 550 880 5 5 5 5 2750 3400 1250 2250 Get More Help Clear All Check Answer DISA ER 340 120 22 Homer, Inc. manufactures model airplane kits and projects production at 550, 680, 250, and 450 kits for the next four quarters (Click the icon to view the manufacturing information) Prepare Homer'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 materiais needed for production Plus: Desired direct materials in ending inventory Total direct materials needed Less Direct materials in beginning inventory Budgeted purchases of direct materials 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 Get More Help Clear All Check