chapter 6 1/3

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 tolles 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 Huber Batting Company Balance Sheet December 31, 2024 Assets Current Assets: Cash $ $ 40,000 Accounts Receivable 18,500 Raw Materials Inventory 7,700 18,450 Finished Goods Inventory Total Current Assets $ 84,650 Data Table $ 84,650 Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 115,000 (10,000) 105,000 $ Total Assets 189,650 Liabilities I Current Liabilities: Accounts Payable $ 17,300 Common Stock, no par Stockholders' Equity $ 140,000 9 Print Done 21 Chapter Malam O BI 99+ Data Table Less: Accumulated Depreciation (10,000) TUO,UUU $ 189,650 Total Assets Liabilities Current Liabilities: Accounts Payable $ 17,300 Stockholders' Equity $ Common Stock, no par Retained Earnings Total Stockholders' Equity 1140,000 32,350 172,350 Total Liabilities and Stockholders' Equity $ 189,650 e shenta Click the icon tavola barda 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. WOULTRICOTATO royarorrorror Evro Or wou poryvaurouard om 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 and age $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. j. 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, Requirements 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 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 ca For the Quarter Ended March 31, 2025 Adult Youth Bats Bats Total scor 1 lus Total bats needed 1729 Less 33% 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 Hubers two primary products are a youth bat, designed for children and young For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Dired 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, XXX) 05:05 Way oducts are a youth bat, designed for children and young teens, and an adu Review the production budget you prepared above. Huber Batting Company Direct Labor Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Direct labor hours needed for production Budgeted direct loborcom Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, XXX Abbreviations used VOH variable manufacturing overhead, FOH ad manufacturing overhead) Rovw the production budoet vou record above Bating Company manufactures od baseball bats. Hubers two primary products are a youth bat, designed for 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 Budgeted manufacturing overhead costs 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 cent.) Youth Bats Adult Bats Total projected manufacturing cost per bat for 2025 Nas the netve a . The Huber Batting Company manufactures wood baseball bats. Huber's two primary products are a youth bat, designed fo 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. 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 Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 Total budgeted selling and administrative expense 7