\begin{tabular}{l|l} Read the equurements. & Requirements \end{tabular} Requirement 1. Prepare Vinson's sales budget for the first quarter of 2025. Requirement 2. Prepare Vinson's production budget for the first quarter of 2025 1. Prepare Vinson's sales budget for the first quarter of 2025 . 2. Prepare Vinson's production budget for the first quarter of 2025. 3. Prepare Vinson'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 Vinson's cost of goods sold budget for the first quarter of 2025. 5. Prepare Vinson's selling and administrative expense budget for the first quarter of 2025. More info a. Budgeted sales are 1,000 youth bats and 3,000 adult bats. b. Finished Goods Inventory on December 31,2024 , consists of 650 youth bats at $19 each and 750 adult bats at $19 each. c. Desired ending Finished Goods Inventory is 150 youth bats and 500 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 50 ounces of wood per youth bat and 64 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 22,000 ounces of wood at $0.15 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 0.5 hours of direct labor; direct labor costs average $26 per hour. h. Variable manufacturing overhead is $0.50 per bat. i. Fixed manufacturing overhead includes $800 per quarter in depreciation and $4,075 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $7,000 per quarter for salaries; $4,000 per quarter for rent; $2,000 per quarter for insurance; and $550 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 4% of sales