nc. manufactures model airplane kits. Direct materials are 6 ounces of plastic per kit and the plastic costs $4 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 $55 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. The company has prepared the fol ( owing budgets Click the icon to view the budgets.) Homer projects sales of 300, 500, 200, and 900 kits for the next four quarters. Homer has no kits in beginning inventory. Determine the cost per kit to manufacture the model airplane kits. Prepare a cost of goods sold budget for the year. Round amounts to two decimal places Determine the cost per kit to manufacture the model airplane kits. (Round your answers to two decimal plac SXxx.) Total projected manufacturing cost per kit Homer, Inc. Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total 350530250 400 1,530 Budgeted kits to be produced Direct materials (ounces) per kit Direct materials needed for production 2.10 3,1801 1,500 240 9,180 230 2,418 3,3307402,6309,410 900 Desired direct materials in ending 318 150 240 230 Plus: inventory Total direct materials needed Direct materials in beginning 150 Less: inventory Budgeted purchases of direct materials Direct materials cost per ounce 1.5101 3,012| 1.59, | 8.510 2,390 |$ 6,072 IS 12,048||$ 6.3601 s 9.560 Budgeted cost of direct materials purchases Homer, Inc. Direct Labor Budget For the Year Ended December 31 First Third Fourth QuarterQuarter Quarter Quarter Total Budgeted kits to be produced Direct labor hours per unit Direct labor hours needed for 250 0.75 1,530 0.75 400 0.75 0.75 0.75 262.50 300.00 1,147.50 Direct labor cost per hour $ 14,438 21,863 S 10,313 $ 6,500$ 63,113 Budgeted direct labor cost Homer, Inc. Manufacturing Overhead Budget For the Year Ended December 31 Second Third QuarterQuarter Qarter Quarter First Fourth Total Budgeted kits to be produced VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs- 4001,530 0.90 s 0.90 $ 315.00$ 477.00S 225.00 $ 360.00 1,377.00 350 250 0.90 $ 0.90 $ 0.90 $ 140.00 140.00 140.00 140.00 560.00 $ 455.00$ 617.00 S 365.00 $ 500.00S 1,937.00 262.50 397.50 187.50 300.001.147.50 $ 1,937.00 Direct labor hours Budgeted manufacturing overhead costs