1. The Vang Batting Company manufactures wood baseball bats. Vang'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. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $35; the adult bat sells for $75. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang's balance sheet for December 31, 2016, follows (Click the icon to view the balance sheet.) Other data for Vang Batting Company for the first quarter of 2017: (Click the icon to view the other data.) Read the requirements Requirement 1. Prepare Vang's sales budget for the first quarter of 2017. Vang Batting Company Sales Budget For the Quarter Ended March 31, 2017 Youth Bats Adult Bats Total 1,700 Budgeted bats to be sold Sales price per unit Total sales Requirement 2. Prepare Vang's production budget for the first quarter of 2017 2,900 4,600 35 $ 75 $ 59,500 217,500 S 277.000 Vang Batting Company Production Budget For the Quarter Ended March 31, 2017 Youth Adult Bats Bats Total Budgeted bats to be sold Plus: Desired bats in ending inventory300 Total bats needed Less: Bats in beginning inventory Budgeted bats to be produced 1,700 2,000 500 1,500 2,900 320 3,220 560 2,660 4.600 620 5.220 1,060 4.160 Requirement 3. Prepare Vang's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2017. 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