Data table Requirement 1. Prepare Irwin's sales budget for the first quarter of 2019. Requirements 1. Prepare Irwin's sales budget for the first quarter of 2019. 2. Prepare Irwin's production budget for the first quarter of 2019 3. Prepare Irwin's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2019. Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours. 4. Prepare Irwin's cost of goods sold budget for the first quarter of 2019 . 5. Prepare Irwin's selling and administrative expense budget for the first quarter of 2019 . More info a. Budgeted sales are 1,900 youth bats and 3,600 adult bats. Finished Goods Inventory on December 31,2018 , consists of 450 youth bats at $13 each and b. 720 adult bats at $16 each. Desired ending Finished Goods Inventory is 500 youth bats and 450 adult bats; FIFO inventory c. costing method is used Direct materials requirements are 40 ounces of wood per youth bat and 62 ounces of wood per d. adult bat. The cost of wood is $0.20 per ounce Raw Materials Inventory on December 31,2018 , consists of 23,000 ounces of wood at $0.20 e. per ounce Desired ending Raw Materials Inventory is 23,000 ounces (indirect materials are insignificant f. and not considered for budgeting purposes). g. Each bat requires 0.5 hours of direct labor, direct labor costs average $15 per hour. h. Variable manufacturing overhead is $0.50 per bat. Fixed manufacturing overhead includes $600 per quarter in depreciation and $23,160 per i. quarter for other costs, such as insurance and property taxes. Fixed selling and administrative expenses include $11,000 per quarter for salaries; $6,000 per j. quarter for rent, $1,600 per quarter for insurance; and $150 per quarter for depreciation k. Variable selling and administrative expenses include supplies at 3% of sales