Oliver, the manufactures model plano Kits and projects production at 350, 300, 400, and 300 kits for the next four quarters (Click the icon to view the actuning Information) Prepare Oliver's dred materials budget. Grect stor budget and manutacturing overhead taget for the year round the dred bot hours needed for production, budgeted overhead come and predetermined overhead location rate to two decimal places Round the amounts to the nearest whole number Begin by preparing Oliver's direct material budget Oliver, Inc More Info Direct Materials Budget For the Year Ended December 31 First Second Third Fourth Directors are unces of plastic per it and the plastic costs 52 per once Quarter Indirect mare cordered significant and are not included in the budgeting Quarter Quarter ) Quarter Total Dr Beginning Man Inventory 870 once and the company desires to and each quarter with 10% of the material readed for the next quarters production Over desires a balance of 20 ounces in Raw Materials inventory at Direct materials founder the end of the fourth quarter. Each requires 0 50 hours of directorata average cost of $15 per hour. Manufacturing overhead is located using direct Direct med for production labor hours at the location base Variable overhead is 1000 per and fired Pu overhead is 5545 per quarter Total direct materials needed Print Done Hudgend purchases of direct manale Det un cost per once Budgeted cost of all purchase 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.) Oliver, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Total Fourth Quarter Direct labor hours needed for production Budgeted direct labor cost Propare the manufacturing overhead badpet. (Enter of conta end hou as a decimal to two ploom, XXX. Abbreviation und VOH Variable manufacturing owerhent, FOH feed manufacturing overhead) Oliver, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Third Quarter Quarter Quarter Fourth Quarter Total VOH Coperit Budgeted VOH Bugeted FOR Budgeted manufacturing ovomead costs Derect labor hours Budgeted manufacturing overhead cost Phadelined overhead locational