Oliver, Inc. manufactures model airplane kits and projects production at 450, 450, 200, and 350 kits for the next four quarters. i (Click the icon to view the manufacturing information.) Prepare Oliver'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. I VI DIG Itai Liucu LEGGINGI JI First Quarter Second Third Fourth Quarter Quarter Quarter Total Budgeted kits to be produced 450 450 200 350 1,450 3 3 3 3 3 Direct materials (ounces) per kit Direct materials needed for production 1,350 1,350 600 1,050 4,350 Plus: Desired direct materials in ending inventory 270 120 210 260 260 Total direct materials needed 1,620 1,470 810 1,310 4,610 Less: Direct materials in beginning inventory 950 270 120 210 950 Budgeted purchases of direct materials 670 1,200 690 1,100 3,660 $ 3 69 3 $ 3 $ 3 $ 3 Direct materials cost per ounce Budgeted cost of direct materials purchases 2,010 $ 3,600 $ 2,070 $ 3,300 $ 10,980 Prepare the direct labor budget. (Enter any hours as a decimal to two places, X.XX, and round all other amounts to the nearest whole number.) Oliver, Inc. Direct labor hours needed for production Budgeted direct labor cost Direct Labor Budget For the Year Ended December 31 First Quarter Second Quarter Third Quarter Fourth Quarter Total