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E22-24 (similar to) s Question Help Cameron, Inc. manufactures model airplane kits and projects production at 500, 450, 550, and 650 kits for the next four quarters. (Click the icon to view the manufacturing information.) Prepare Cameron'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. Begin by preparing Cameron's direct materials budget. * More Info Cameron, Inc. Direct Materials Budget For the Year Ended December 31 First Second Quarter Quarter 450 Fourth Third Quarter Quarter Total Budgeted kits to be produced 500 650 2150 Direct materials (ounces) per kit Direct materials needed for production Direct materials are 4 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 860 ounces, and the company desires to end each quarter with 30% of the materials needed for the next quarter's production. Cameron desires a balance of 270 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.50 hours of direct labor at an average cost of $40 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.90 per kit, and fixed overhead is $175 per quarter. 1800 2200 2600 8600 Plus: Desired direct materials in ending inventory Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials Print Done Direct materials cost per ounce Budgeted cost of direct materials purchases