Homer$$ Inc. manufactures model airplane kits and projects production at $450,620,600,$ and $750$ kits for the next four quarters. Prepare Homer's direct materials$$ 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. More info

Direct materials are seven ounces of plastic per kit and the plastic costs $\backslash (\backslash$$ $2\backslash )$ per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is $890$ ounces, and the company desires to end each quarter with $\backslash (20\backslash \%\backslash )$ of the materials needed for the next quarter's production. Homer desires a balance of $220$ ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires $0\mathrm{.}50$ hours of direct labor at an average cost of $\backslash (\backslash$$ $22\backslash )$ per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $\backslash (\backslash$$ $0\mathrm{.}40\backslash )$ per kit, and fixed overhead is $\backslash (\backslash$$ $175\backslash )$ per quarter. Wiber, Inc. manufactures model airplane kits and projects production at $\backslash (150,450,500\backslash ),$ and $700$ kits for the next four quarters.

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Prepare Wiber's direct materiais budget, direct labor hudget, and manufacturing overhead budget for the year. Round the direct labor fours ne

Begin by preparing Wilber's direct materiais budget.

Prepare the direct labor budget: $($Enter any hours as a decimal to wo places, $\backslash (\backslash$mathrm$\{$X$\},\backslash$mathrm$\{$XO$\}\backslash ),$ and round all other anwounts to the nearest whole number.$)$

Prepare the manufacturing overhead budget, $($Enter all costs and hours as a decimal to two places, $\backslash (\backslash$mathrm$\{$X$\}.\backslash$times $\backslash$mathrm$\{$XX$\}\backslash ).$ Aboreviations usadt: vor $\backslash (=\backslash )$ varlable