Data table Current Assets: Cash Mata Batting Company Balance Sheet December 31, 2024 Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Assets Less: Accumulated Depreciation Total Assets Current Liabilities: Accounts Payable Liabilities $ 45,000 26,200 5,000 16,400 $ 92,600 110,000 (35,000) 75,000 $ 167,600 $ 8,000 - More info a. Budgeted sales are 1,100 youth bats and 3,600 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 600 youth bats at $20 each and 440 adult bats at $10 each. c. Desired ending Finished Goods Inventory is 200 youth bats and 350 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 42 ounces of wood per youth bat and 64 ounces of wood per adult bat. The cost of wood is $0.20 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 25,000 ounces of wood at $0.20 per ounce. f. Desired ending Raw Materials Inventory is 25,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.3 hours of direct labor; direct labor costs average $30 per hour. h. Variable manufacturing overhead is $0.70 per bat. i. Fixed manufacturing overhead includes $1,000 per quarter in depreciation and $2,368 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $11,000 per quarter for salaries; $4,000 per quarter for rent; $1,100 per quarter for insurance; and $150 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 5% of sales. Print Done I Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity $ 80,000 79,600 159,600 rter of 2025. Round the predetermined overhead allocation rate to two decimal places. The overhead allocation bas $ 167,600 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 $60; the adult bat sells for $75. 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: (Click the icon to view the other data.) (Click the icon to view the balance sheet.) Read the requirements. Requirement 1. Prepare Mata's sales budget for the first quarter of 2025. Mata 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 Mata's production budget for the first quarter of 2025. Mata Batting Company Production Budget For the Quarter Ended March 31, 2025 Plus: Total bats needed Less: Budgeted bats to be produced Youth Adult Bats Bats Total 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 per bat (ounces) Direct Materials Budget For the Quarter Ended March 31, 2025 Direct materials needed for production Plus: Total direct materials needed Less: Budgeted purchases of direct materials Direct materials cost per ounce Youth Adult Bats Bats Total 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 Direct labor hours needed for production Budgeted direct labor cost Youth Adult Bats Bats Total 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 VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Youth Adult Bats Bats Total 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.) Adult Bats Youth Bats Total projected manufacturing cost per bat for 2025 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 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 Bats produced and sold in 1st quarter of 2025 Youth Adult Bats Bats Total 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 Total budgeted selling and administrative expense