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Wilber, Inc. Direct Labor Budget For the Year Ended December 31 Wilber, Inc. Manufacturing Overhead Budget For the Year Ended December 31 \begin{tabular}{|c|c|c|c|c|c|} \hline & \begin{tabular}{l} First \\ Quarter \end{tabular} & \begin{tabular}{l} Second \\ Quarter \end{tabular} & \begin{tabular}{l} Third \\ Quarter \end{tabular} & \begin{tabular}{l} Fourth \\ Quarter \end{tabular} & Total \\ \hline \begin{tabular}{l} Budgeted kits to be \\ produced \end{tabular} & 400 & 530 & 500 & 650 & 2,080 \\ \hline VOH cost per kit & 0.60 & 0.60 & 0.60 & 0.60 & 0.60 \\ \hline Budgeted VOH & \begin{tabular}{rr} $ & 240.00 \\ & 135.00 \\ \end{tabular} & \begin{tabular}{r} $318.00 \\ 135.00 \\ \end{tabular} & \begin{tabular}{r} $300.00 \\ 135.00 \\ \end{tabular} & \begin{tabular}{r} $390.00 \\ 135.00 \\ \end{tabular} & \$ 1,248.00 \\ \hline \begin{tabular}{l} Budgeted \\ manufacturing \\ overhead costs \end{tabular} & $375.00 & $453.00 & $435.00 & $525.00 & $1,788.00 \\ \hline \begin{tabular}{l} Direct labor hours \\ Budgeted \\ manufacturing \\ overhead costs \\ Predetermined \\ overhead allocation rate \end{tabular} & 200.00 & 265.00 & 250.00 & 325.00 & \begin{tabular}{rr} & 1,040.00 \\ $ & 1,788.00 \\ $ & 1.72 \\ \end{tabular} \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|} \hline \multicolumn{7}{|c|}{\begin{tabular}{l} Direct Materials Budget \\ For the Year Ended December 31 \end{tabular}} \\ \hline & \begin{tabular}{c} First \\ Quarter \end{tabular} & \begin{tabular}{l} Second \\ Quarter \end{tabular} & \begin{tabular}{c} Third \\ Quarter \end{tabular} & \begin{tabular}{l} Fourth \\ Quarter \end{tabular} & Total & \\ \hline \begin{tabular}{l} Budgeted kits to be \\ produced \end{tabular} & 400 & 530 & 500 & 650 & 2,080 & \\ \hline \begin{tabular}{l} Direct materials (ounces) \\ per kit \end{tabular} & 5 & 5 & 5 & 5 & 5 & \\ \hline \begin{tabular}{l} Direct materials needed \\ for production \end{tabular} & 2,000 & 2,650 & 2,500 & 3,250 & \multicolumn{2}{|l|}{10,400} \\ \hline \begin{tabular}{l} Plus: Desired direct \\ materials in ending \\ inventory \end{tabular} & 530 & 500 & 650 & 210 & 210 & \\ \hline \begin{tabular}{l} Total direct materials \\ needed \end{tabular} & 2,530 & 3,150 & 3,150 & 3,460 & 10,610 & \\ \hline \begin{tabular}{l} Less: Direct materials in \\ beginning inventory \end{tabular} & 930 & 530 & 500 & 650 & 930 & \\ \hline \begin{tabular}{l} Budgeted purchases of \\ direct materials \end{tabular} & 1,600 & 2,620 & 2,650 & 2,810 & 9,680 & \\ \hline \begin{tabular}{l} Direct materials cost per \\ ounce \end{tabular} & & $ & 4 & 4 & $ & \\ \hline \begin{tabular}{l} Budgeted cost of direct \\ materials purchases \end{tabular} & $6,400 & $10,480 & $ & $ & $38,720 & \\ \hline \multicolumn{7}{|c|}{ Wilber, Inc. } \\ \hline \multicolumn{7}{|c|}{ Direct Labor Budget } \\ \hline \multicolumn{6}{|c|}{ For the Year Ended December 31} & \\ \hline \end{tabular} Wilber, Inc. manufactures model airplane kits. Direct materials are five 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 0.50 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.) Wilber projects sales of 350,100,450, and 400 kits for the next four quarters. Wilber 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.) Total projected manufacturing cost per kit
