Score: 0 of 2 pts 6 of 74 complete) HW Score: 36.36% 3.69 of 10 pts E22-24 (similar to) Question Help Olver, in manufactures model airplane kits and projects production : 550, 270, 150, and 750 kts for the next four quarters Click the loan to view the manufacturing Information) Prepare Olver'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 location ale to two decimal places. Round other amounts to the nearest whole number Degin by preparing Over's direct materials budget Oliver, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter More Info - X Third Fourth Quarter Quarter Total Direct materials counces)perkt Direct matras needed for production Direct materials we 5 ounces of plastic per it and the plastie costs 3 per ounce Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 900 ounces, and the company desire to and each quarter with 30% of the materials needed for the next quarter's the production Over desires a balance of 220 cunces in Raw Materials inventory end of the fourth quarter. Each it requirea 0.50 hours of direct laborator average cost of 22 per hour Manufacturing overhead is located using direct labor hours as the allocation base. Variable overhead is 50.75 per it, and fored overhead is 5155 per guar Plus Total directorial needed Print Done Budgeted purchases of direct manera Direct materials cost per ore Budgeted cost of direct materials purchases Choose from any list or enter any number in the input fields and then click Check Answer 2 ports remaining CAI Check Answer Type here to search o c . - C