Assets The Mata Batting Company manufactures wood baseball bats. Mata'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. Mata sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $30; the adult bat sells for $65. Mata's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Mata's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: E: (Click the icon to view the balance sheet.) (Click the icon view the other data.) x Read the requirements Data Table X More Info Requirement 1. Prepare Mata's sales budget for the first quarter of 2025. Mata Batung Company Mata Batting Company Balance Sheet a. Budgeted sales are 1,900 youth bats and 3,600 adult bats. Sales Budget December 31, 2024 b. Finished Goods Inventory on December 31, 2024, consists of 500 youth bats at $20 For the Quarter Ended March 31, 2025 each and 840 adult bats at $19 each. Youth Adult Current Assets c. Desired ending Finished Goods Inventory is 400 youth bats and 450 adult bats; Bats Bats Total FIFO inventory costing method is used. Cash $ 35,000 d. Direct materials requirements are 50 ounces of wood per youth bat and 54 ounces of Budgeted bats to be sold Accounts Receivable 17,900 wood per adult bat. The cost of wood is $0.30 per ounce. Sales price per unit Raw Materials Inventory 6,600 e. Raw Materials Inventory on December 31, 2024, consists of 22,000 ounces of wood at $0.30 per ounce. 25.960 Total sales Finished Goods Inventory f. Desired ending Raw Materials Inventory is 22,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). Total Current Assets $ 85,460 Requirement 2. Prepare Mata's production budget for the first quarter of 2025. g. Each bat requires 0.6 hours of direct labor, direct labor costs average $12 per hour. Property, Plant, and Equipment: Mata Batting Company h. Variable manufacturing overhead is $0.60 per bat. Equipment 120,000 Production Budget i. Fixed manufacturing overhead includes $1,200 per quarter in depreciation and (30,000) Less: Accumulated Depreciation 90.000 $7,818 per quarter for other costs, such as insurance and property taxes. For the Quarter Ended March 31, 2025 j. Fixed selling and administrative expenses include $13,000 per quarter for salaries; 175,460 Youth Adult Total Assets $1,500 per quarter for rent: $1,900 per quarter for insurance; and $350 per quarter for depreciation. Bats Bats Total Liabilities k. Variable selling and administrative expenses include supplies at 4% of sales. Budgeted bats to be sold Current Liabilities Plus: Desired bats in ending inventory Accounts Payable $ 14,500 Print Done Total bats needed Stockholders' Equity Less: Bats in beginning inventory Common Stock, no par $ 120.000 40,960 Budgeted bats to be produced Retained Earnings Total Stockholders' Equity 160,960 $ 175,460 Choose from any list or enter any number in the input fields and then continue to the next question Total Liabilities and Stockholders' Equity Requirement 3. Prepare Mata'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. Mata Batting Company Direct Materials Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Budgeted bats to be produced Direct materials per bat ounces) Direct materials needed for production Plus: Desired direct materials in ending inventory (ounces) Total direct materials needed Less: Direct materials in beginning inventory (ounces) 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 you prepared above. Mata Batting Company Direct Labor Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Budgeted bats to be produced Direct labor hours per unit Direct labor hours needed for production Direct labor cost per hour Budgeted direct labor cost Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, X.XX. Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Review the production budget you prepared above. Review the direct labor budget you prepared above. Mata Batting Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Budgeted bats to be produced VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Requirement 4. Prepare Mata'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 cent.) Youth Bats Adult Bats Direct materials cost per bat Direct labor cost per bat Manufacturing overhead cost per bat Total projected manufacturing cost per bat for 2025 Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. Mata Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Beginning inventory Bats produced and sold in 1st quarter of 2025 Total budgeted cost of goods sold Requirement 5. Prepare Mata's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. Mata Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 Salaries Expense Rent Expense Insurance Expense Depreciation Expense Supplies Expense Total budgeted selling and administrative expense