Exercise 8-16 Direct Materials and Direct Labor Budgets (LO8-4, LO8-5] The production department of Zan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 8,000 Units to be produced 2nd Quarter 11,000 3rd Quarter 10,000 4th Quarter 9 ,000 In addition, 12,000 grams of raw materials inventory is on hand at the start of the 1st Quarter and the beginning accounts payable for the 1st Quarter is $5,400. Each unit requires 6 grams of raw material that costs $1.80 per gram. Management desires to end each quarter with an inventory of raw materials equal to 25% of the following quarter's production needs. The desired ending inventory for the 4th Quarter is 5,000 grams. Management plans to pay for 60% of raw material purchases in the quarter acquired and 40% in the following quarter. Each unit requires 0.40 direct labor-hours and direct laborers are paid $14.50 per hour. Required: 1.&2. Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. 3. Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 4. Calculate the estimated direct labor cost for each quarter and for the year as a whole. Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Calculate the estimated grams of raw material that need to be purchased and the cost of raw material purchases for each quarter and for the year as a whole. - 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Estimated grams of raw material to be purchased Cost of raw materials to be purchased I I I Reg 1 and 2 Req3 > Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Calculate the expected cash disbursements for purchases of materials for each quarter and for the year as a whole. 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total cash disbursements for materials Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Reg 4 Calculate the estimated direct labor cost for each quarter and for the year as a whole. (Round "Direct labor-hours per unit" and "Direct labor cost per hour" answers to 2 decimal places.) 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year Total direct labor cost