Preston, Ine, manidactures model airplane kits and prejects production at 450,530,200, and 750 kits for the nexi four quartars. (1) (Click the icon to view the manufacturing information.) Prepare Prestori's direct materials budpet, direct labor budgel, and manutacturing ovetheod budget for the year Round the diroct labor hours noeded lor production, budgeted ovethiedd costs, and predetermned ovemhead alocition rale to two decimal places. Round other arnounts to the noarest whole furrber. Begn by preparing Preston's drect materials budgod Direct materials are five ounces of plastic per kit and the plastic costs $3 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 880 ounces, and the company desires to end each quarter with 30% of the materials needed for the next quarter's production. Preston desires a balance of 250 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 $25 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 $135 per quarter