budget project below using the temp Manufacturing: Preparation of the Master Balget two primary products are a youth bat, designed for children and young ce The Irwin Batting Company manufactures wood baseball bats. Irwin's noz teens, and an adult bat, designed for high school and college-aged account. The youth bat sells for $35; the adult bat sells for $50. Irwin's players. Irwin sells the bats to sporting goods stores, and all sales are on highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Trwin's balance sheet for December 31, 202, follows: sel WIN BATTING COMPANY Balance Sheet Diber 21, 2024 Current Assets 0.000 19.500 9.000 16,000 63,500 ACCOM ts Receivable Raw Materials inventory Finished Goods inventory Total Current Property. Plant, and Equipment: Guipment Less Accumulated ereciation 130.000 (70.000 60.ood s123.500 Liabilities 11,60 Current Liabilities: ASCounts Payable Common stock. no par Retained Earnings Total stockholders. Equity Total Liabilities and stockholders' Equity Stockholders Equity $ 90,000 21.900 111.90 S 1 23.5 Other data for Irwin Batting Company for the first quarter si 2025: 2. Budgeted sales are 1.400 vouth bats and 3.300 adult bat: b. Finished Goods Inventory on December 31, 2024, consists : 700 youth bats at $15 each and 350 adult bats at $10 each. .. Desired ending Farrished Gaade inventar u 220 youth bats and 300 adult bats; FIFO intentory costing method is used. d. Direct materials requirements are 10 ounces of wood tar vuth Bar and 76 ounces or wood for adult bats. The cost of wood is 30.10 per unce. e. Raw Materials Inventory on December 31, 2024, constata or 90.000 ounces of wood ar $0.20 per ounce. 1. Desired ending Raw Materials Inventory is 90.000 ounces (indirec materials are insignificant and not considered for budgeting purposes). 5. Each bat requires 0.4 hours a direct labar; direct labor costs average $26 per hour. h. Variable manufacturing averhead is $0.30 per bat. 1. Fixed manufacturing overhead includes $1,300 pr quarter in depreciation and $14,977 per quarter for other costs, such as insur and property taxei. . Fixed selling and administrative expenses include $13,000 per quartex for salaries; 53,500 per quarter for rent: $1,400 per quarta insurance and $450 per quarter for depreciation. k. Variable selling and administrative expenses include supplies Osales. of 2025 budget project below using the temp Manufacturing: Preparation of the Master Balget two primary products are a youth bat, designed for children and young ce The Irwin Batting Company manufactures wood baseball bats. Irwin's noz teens, and an adult bat, designed for high school and college-aged account. The youth bat sells for $35; the adult bat sells for $50. Irwin's players. Irwin sells the bats to sporting goods stores, and all sales are on highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Trwin's balance sheet for December 31, 202, follows: sel WIN BATTING COMPANY Balance Sheet Diber 21, 2024 Current Assets 0.000 19.500 9.000 16,000 63,500 ACCOM ts Receivable Raw Materials inventory Finished Goods inventory Total Current Property. Plant, and Equipment: Guipment Less Accumulated ereciation 130.000 (70.000 60.ood s123.500 Liabilities 11,60 Current Liabilities: ASCounts Payable Common stock. no par Retained Earnings Total stockholders. Equity Total Liabilities and stockholders' Equity Stockholders Equity $ 90,000 21.900 111.90 S 1 23.5 Other data for Irwin Batting Company for the first quarter si 2025: 2. Budgeted sales are 1.400 vouth bats and 3.300 adult bat: b. Finished Goods Inventory on December 31, 2024, consists : 700 youth bats at $15 each and 350 adult bats at $10 each. .. Desired ending Farrished Gaade inventar u 220 youth bats and 300 adult bats; FIFO intentory costing method is used. d. Direct materials requirements are 10 ounces of wood tar vuth Bar and 76 ounces or wood for adult bats. The cost of wood is 30.10 per unce. e. Raw Materials Inventory on December 31, 2024, constata or 90.000 ounces of wood ar $0.20 per ounce. 1. Desired ending Raw Materials Inventory is 90.000 ounces (indirec materials are insignificant and not considered for budgeting purposes). 5. Each bat requires 0.4 hours a direct labar; direct labor costs average $26 per hour. h. Variable manufacturing averhead is $0.30 per bat. 1. Fixed manufacturing overhead includes $1,300 pr quarter in depreciation and $14,977 per quarter for other costs, such as insur and property taxei. . Fixed selling and administrative expenses include $13,000 per quartex for salaries; 53,500 per quarter for rent: $1,400 per quarta insurance and $450 per quarter for depreciation. k. Variable selling and administrative expenses include supplies Osales. of 2025