Preston, Inc., manufactures model airplane kits and projects production at 300, 420, 650, and 550 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 Begin by preparing Preston's direct * More Info Direct materials are 3 ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 860 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter's production Preston desires a balance of 240 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.50 hours of direct labor at an average cost of 522 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.40 per kit, and fixed overhead is $160 per quarter Direct materials (ounces) per kit Direct materials needed for product Plus Total direct materials needed Print Done Loss Budgeted purchases of direct materials Direct materials cost per ounce Choose from any list or enter any number in the input fields and then continue to the next question Preston, Inc. manufactures model airplane kits and projects production at 300, 420, 650, and 550 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 Begin by preparing Preston's direct materials budget Preston, Inc. Direct Materials Budget For the Year Ended December 31 Second Quarter Quarter First Fourth Third Quarter Quarter Direct materials (ounces) per kit Direct materials needed for production Plus Total direct materials needed Loss Budgeted purchases of direct materials Direct materials cost per ounce Choose from any list or enter any number in the input fields and then continue to the next question Save Topler 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 Less Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials purchases 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) Preston, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Direct labor hours needed for production Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Preston, Inc. manufactures model airplane kits and projects production at 300, 420, 650, and 550 kits for the next four quarters (Click the icon to view the manufacturing information.) Prepare Preston's direct material 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 Direct labor hours needed for production Budgeted direct labor cost Prepare the manufacturing overhead budget. (Enter all costs and hours as a decimal to two places, XXX. Abbreviations used. VOH - variable manufacturing overhead, FOH - foed manufacturing overhead) Preston, Inc. Manufacturing Overhead Budget For the Year Ended December 31 First Second Quarter Quarter Third Fourth Quarter Quarter VOH cost per kit Budgeted VOH Choose from any list or enter any number in the input Delds and then continue to the next question Save for later Preston, maractures del planets and projects production at 300, 420, 650, and 550 lots for the real furgers Ock the icon to vw the manufacturing information) Prepare Preston's direct material 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 to two decimal places. Round other amounts to the nearest whole number Preston, Inc. Manufacturing Overhead Budget For the Year Ended December 31 Second Quarter Third Fourth Quarter Quarter Total VOH cost per kit Budgeted VOH Budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Choose from any list or enter any number in the input Delds and then continue to the next question Save