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Click the icon to view the other data Data Table Huber Batting Company Balance Sheet December 31, 2024 Assets Current Assets: Cash 40,000 18,500 Accounts Receivable Raw Materials Inventory Finished Goods Inventory 7,700 18,450 Total Current Assets 84,650 Data Table Total Current Assets $ 84,650 Property, Plant, and Equipment: Equipment 115,000 (10,000) Less: Accumulated Depreciation 105,000 Total Assets $ 189,650 Liabilities Current Liabilities: Accounts Payable $ 17,300 Stockholders' Equity Common Stock, no par $ 140,000 Data Table (TU,000) 105,000 Less: Accumulated Depreciation $ 189,650 Total Assets Liabilities Current Liabilities: Accounts Payable $ 17,300 Comman Stock, no par Stockholders' Equity $ 140,000 32,350 Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 172,350 $ 189,650 More Info a. Budgeted sales are 1,500 youth bats and 3,500 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 700 youth bats at $18 each and 450 adult bats at $13 each. c. Desired ending Finished Goods Inventory is 250 youth bats and 550 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 52 ounces of wood per youth bat and 62 ounces of wood per adult bat. The cost of wood is $0.35 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 22,000 ounces of wood at $0.35 per ounce. f. Desired ending Raw Materials Inventory is 22,000 ounces (indirect materials are insignificant and not considered for budgeting purposes), g. Each bat requires 0.2 hours of direct labor, direct labor costs average $16 per hour. h. Variable manufacturing overhead is $0.90 per bat. More Info WITOOCTRICOTTA Toqun omorno O UL Vou or wouu por your WALUTTUUL ounces of wood per adult bat. The cost of wood is $0.35 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 22,000 ounces of wood at $0.35 per ounce. f. Desired ending Raw Materials Inventory is 22,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.2 hours of direct labor; direct labor costs average $16 per hour. h. Variable manufacturing overhead is $0.90 per bat. i. Fixed manufacturing overhead includes $1,200 per quarter in depreciation and $4,845 per quarter for other costs, such as insurance and property taxes. . Fixed selling and administrative expenses include $10,000 per quarter for salaries; $4,000 per quarter for rent; $1,600 per quarter for insurance; and $300 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 5% of sales. The Huber Batting Company manufactures wood baseball bats. Huber's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Huber sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $50, the adult bat sells for $75. Huber's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Huber's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: Click the icon to view the balance sheet.) (Click the icon to view the other data) Read the requirements Requirement 1. Prepare Hub Requirements Hube For the Qual 38 1. Prepare Huber's sales budget for the first quarter of 2025. 2. Prepare Huber's production budget for the first quarter of 2025. 3. Prepare Huber's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2025. Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours 4. Prepare Huber's cost of goods sold budget for the first quarter of 2025. 5. Prepare Huber's selling and administrative expense budget for the first quarter of 2025 Budgeted bats to be sold Sales price per un Total sales Next Print Done The Huber Batting Company manufactures wood baseball bats. Huber's two primary pi Requirement 1. Prepare Huber's sales budget for the first quarter of 2025. - Huber Batting Company Sales Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Budgeted bats to be sold Sales price per unit Total sales Requirement 2. Prepare Huber's production budget for the first quarter of 2025. Huber Batting Company Production Budget For the Quarter Ended March 31, 2025 DARI -pe here to search O 99+ For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total ho Plus: Total bats needed Less Budgeted bats to be produced Requirement 3. Prepare Huber's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2025. Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours. Begin by preparing the direct materials budget. Huber Batting Company Direct Materials Budget For the Quarter Ended March 31, 2025 For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Direct materials per bat (ounces) Direct materials needed for production Plus: Total direct materials needed Less: Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials Prepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, X.XX.) Review the production budget vou prepared above. Review the production budget you prepared above. Huber Batting Company Direct Labor Budget For the Quarter Ended March 31, 2025 Youth Adult 7 his Bats Bats Total Direct labor hours needed for production Budgeted direct labor cost Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, XXX. Abbreviations used: VOH variable manufacturing overhead, FOH - fixed manufacturing overhead.) Review the run hintaan Review the production budget you prepared above. Review the direct labor budget you prepared above. Huber Batting Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH ar way The Huber Batting Company manufactures Wood baseball Bats Hub SW pidi Tolal budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Requirement 4. Prepare Huber's cost of goods sold budget for the first quarter of 2025 Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per bat for 2025. (Round all amounts to the nearest cont) Youth Bats Adult Bats Total projected manufacturing cost per bat for 2025 Mat Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. Huber Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Bats produced and sold in 1st quarter of 2025 Total budgeted cost of goods sold Requirement 5. Prepare Huber's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. Huber Batting Company Bats produced and sold in 1st quarter of 2025 Total budgeted cost of goods sold Requirement 5. Prepare Huber's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. st Huber Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 W Total budgeted selling and administrative expense