Paragraph Styles Deadline: you must submit this assignment electronically via Connect using the submission link I have provided in the module by 1159pm, Sunday 4/19. Make sure your name, your TA's name, and your discussion section time are clearly indicated on your submission to ensure you receive credit. 1. Production and DM budgets: Stolen Horse, Inc. manufactures and distributes toy dinosaurs throughout the Western United States, Four (4) Ounces of plastic are required to manufacture each 'STEGOSAURUS' toy dinosau one of the company's products. The company now is planning raw materials needs for the third quarter, the quarter in which peak sales of the STEGOSAURUS toy occur. To keep production and sales moving smoothly, the company has the following inventory requirements: The finished goods inventory on hand at the end of each month must equal 20% of the next month's sales. The finished goods inventory on June 30 is budgeted to be 16,600 units. The raw materials inventory on hand at the end of each month must equal 40% of the following month's production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 96,000 ounces of plastic The company maintains no work in process inventories. A monthly sales budget for STEGOSUARUS toys for the third and fourth quarters of the year follows. July August September October November December Budgeted Unit Sales 63,000 68,000 78,000 58.000 48,000 38,000 a. Prepare a production budget for STEGOSAURUS for the months July, August September, and October b. Prepare a direct materials (DM) budget showing the quantity of plastic (in ounces) to be purchased for each of the months of July, August, and September and for the third quarter in total 2. DL and MOH budget: The Production Department of Top of the World Corporation has submitted the following forecast of unite toho nenhurad humorartar for the uncomino fleral waar 48.RO November December 38.000 a. Prepare a production budget for STEGOSAURUS for the months July August September, and October. b. Prepare a direct materials (DM) budget showing the quantity of plastic in ounces) to be purchased for each of the months of luly, August, and September and for the third quarter in total. 2. DL and MOH budget: The Production Department of Top of The World Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year: 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Units to be produced 10,700 9,700 11,700 12,700 Each unit requires 0.25 direct labor hours and direct laborers are paid $14.00 per hour. In addition, the variable manufacturing overhead rate is $2.00 per direct labor-hour. The fixed manufacturing overhead is $67,000 per quarter. The only noncash element of manufacturing overhead is depreciation, which is $16,000 per quarter. a. Calculate the company's total estimated direct labor cost for each quarter of the upcoming fiscal year and for the year as a whole. Assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the estimated number of units produced. b. Calculate the company's total estimated manufacturing overhead cost and the cash disbursements for manufacturing overhead for each quarter of the upcoming fiscal year and for the year as a whole