Wilber, Inc. manufactures model airplane kits. Direct materials are six 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. Each kit requires 0.25 hours of direct labor at an average cost of $15 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 200, 100, 500, and 100 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, $XXX.) Direct labor cost per kit Direct materials cost per kit Manufacturing overhead cost per kit Selling price per kit Wilber, Inc. Direct Materials Budget For the Year Ended December 31 First Quarter Second Third Fourth Quarter Quarter Quarter Total Budgeted kits to be produced 600 330 250 550 1,730 Direct materials (ounces) per kit 6 6 6 6 6 Direct materials needed for production 3,600 1,980 1,500 3,300 10,380 396 300 660 250 250 Plus: Desired direct materials in ending inventory Total direct materials needed 3.996 2,280 2,160 3,550 10,630 880 396 300 660 880 Less: Direct materials in beginning inventory Budgeted purchases of direct materials 3,116 1,884 1.860 2,890 9,750 S 1 $ 1 $ 1 $ 1 $ 1 Direct materials cost ner ounce Print Done Direct materials cost per ounce $ 1 $ 1 $ 1 S 1 $ Budgeted cost of direct materials purchases $ 3,116 $ 1,884 $ 1,860 $ 2,890 $ 9,750 Wilber, Inc. Direct Labor Budget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 600 330 250 550 1,730 0.25 0.25 0.25 0.25 0.25 Direct labor hours per unit Direct labor hours needed for production 150.00 82.50 62.50 137.50 432.50 S 15 $ 15 S 15 $ 15 $ 15 Direct labor cost per hour $ 2,250 $ 1,238 $ 938 $ 2,063 $ 6,488 Budgeted direct labor cost Wilber, Inc. Print Done Reference Manufacturing Overnead Buaget For the Year Ended December 31 First Second Third Fourth Quarter Quarter Quarter Quarter Total Budgeted kits to be produced 600 330 250 550 1,730 VOH cost per kit $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 0.25 Budgeted VOH $ 150.00 $ 82.50 $ 62.50 $ 137.50 $ 432.50 175.00 Budgeted FOH 175.00 175.00 175.00 700.00 $ 325.00 $ Budgeted manufacturing overhead costs 257.50 $ 237,50 $ 312.50 $ 1,132.50 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate 150.00 82.50 62.50 137.50 432.50 $ 1,132.50 $ 2.62 Print Done