Preston, Inc. manufactures model airplane kits and projects production at 300, 120, 650, and 450 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Preston'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, Budgeted kits to be produced Preston, Inc. Direct Materials Budget For the Year Ended December 31 Direct materials (ounces) per kit Direct materials 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 odocs example Get more help First Quarter Second Third Fourth Quarter Quarter Quarter Total MacBook Clear all Check answer Preston, Inc. manufactures model airplane kits and projects production at 300, 120, 650, and 450 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Preston's direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor ham budgeted ats to the nearest whole More info - Budgete Direct ma Direct ma Plus: Total dire Direct materials are 4 ounces of plastic per kit and the plastic costs $2 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 940 ounces, and the company desires to end each quarter with 20% of the materials needed for the next quarter's production. Preston desires a balance of 220 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 $45 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.50 per kit, and fixed overhead is $135 per quarter. Print Done Less: Budgeted Direct materials cost per ounce Budgeted cost of direct materials purchases odocs example Get more help er Total Clear all 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.) Trevor, Inc. Direct Labor Budget For the Year Ended December 31 Budgeted kits to be produced Direct labor hours per unit Direct labor hours needed for production Direct labor cost per hour. Budgeted direct labor cost nodocs example Get more help- First Second Third Fourth Quarter Quarter Quarter Quarter Total MacBook Clear all Check (Click the icon to view the manufacturing information.) Prepare Trevor'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. Budgeted kits to be produced VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate modocs example Get more help Trevor, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Quarter Second Quarter Third Quarter Fourth Quarter Total MacBook Clear all Check answer