Answered step by step
Verified Expert Solution
Question
1 Approved Answer
do all requirements any format is okay. Score: 0 of 20 pts 9 of 10 10 complete) Hw Score: 0% P22-39A (book/static) The Mata Batting
do all requirements
any format is okay.
Score: 0 of 20 pts 9 of 10 10 complete) Hw Score: 0% P22-39A (book/static) The Mata Batting Company manufactures wood basebal bats. Mata's two primary products are a youth bat designed for The company has prepared the following budgets children and young teens, and an adut bat, designed for high school and college-aged players. Mata sells the bats to sporting goods stores and all sales are on account Mata's beiance sheet for December 31, 2014, follows IB (Click the lcon to view the balance sheet) T (Click the ioon to view the sales and production budgets) Data Table Additional data for Mata Bating Company (Cisk the lcon to view the data) Mata Batting Company Sales Budget For the Quarter Ended March 31, 2015 Requirement 1.Prepare Mata's schedules for cash rece pts from customers and cash payments for the first quarter of 2015 Begin by preparing the schedule for cash neceipts trom customers for the first quarter of 2015 Cash Receipts from Customers Adult Total First Quarter Budgeted bats to be sols 500 3.000 65 4,500 Sales price per unit S52.500 5 195.0005 247 500 Cash Recelpts from Customers: Accounts Receivable balance, December 31, 2014 st Gr--Saies Total cash receipts from customen Mata Batting Company Production Budget For the Quarter Ended March 31, 2015 Accounts Recelvable balance, March 31, 2015: t Qt-Sales, collected in 2nd Qt Total Budgeted bats to be sold 4.500 750 Plus: Desired bats in ending inventory Requirements Total bats needed Less: Bats in beginning inventory Budgeted bats to be produced 1,003450250 1,250 Enter any number in the ed 1. Prepare Mata's schedules for cash recejpts from customers and cash payments for the 1,300 2.700 ,000 fest quarter of 2015. 2. Prepare Mata's cash budget for the fiest quarter of 2015 Print Done For the Quarter Ended March 31, 2015 Adult Youth Total Bats Bats 2,700 10 4,000 1,300 Budgeted bats to be produced Direct materials cost per unit Direct materials needed for production Plus: Desired direct materials in ending inventory Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials 8 $ $ 10,400 $ 27,000$ 37,400 11,000 48,400 11,000 $ 37,400 Mata Batting Company Direct Labor Budget For the Quarter Ended March 31, 2015 Youth Adult Bats Total Bats 4,000 0.25 1,000 20 6500Ls 13 50nlls20 000 2,700 0.25 1,300 Budgeted bats to be produced Direct labor hours per unit Direct labor hourbheeded for production Direct labor cost per hour 0.25 325 20 $ 675 20 $ Mata Tire Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2015 Youth Adult Total Bats Bats 1,300 0.75 0.7 4,000 Budgeted bats to be produced VOH* cost per bat Budgeted VOH Budgeted FOH" 2,700 5 $ 0.75 975 2.025 3,000 1,000 2,000 3,000 S6,000 Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs 675 1,000 325 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate VOH-Variable Manufacturing Overhead "FOH - Fixed Manufacturing Overhead S6,000 6.00 Print Done Mata Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2015 Youth Adult Total Bats Bats 7,500 $ 2,750 20,250 51,625 Beginning inventory Bats produced and sold in 1st quarter of 2015 Total budgeted cost of goods sold 37,125 14,500 $22,000 $ 49,875 $ 71,875 Mata Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2015 $10,000 3,000 1,500 300 2,475 $ 17,275 Salaries Expense Rent Expense Insurance Expense Depreciation Expense Supplies Expense Total budgeted selling and administrative expense December 31, 2014 Assets Current Assets: $30,000 22,500 11,000 20,250 Cash Accounts Receivable Raw Materiars Inventory Finished Goods Inventory Total Current Assets $83,750 Property, Plant, and Equipment: Equipment 125,000 Less: Accumulated Depreciation(50,000) 75,000 $158,750 Total Assets Liabilities Current Liabilities: Accounts Payable $12,500 Stockholders Equity Common Stock 100,000 46,250 Retained Earnings 146,250 Total Stockholders' Equity $158,750 Total Liabilities and Stockholders' Eauit Score: 0 of 20 pts 9 of 10 10 complete) Hw Score: 0% P22-39A (book/static) The Mata Batting Company manufactures wood basebal bats. Mata's two primary products are a youth bat designed for The company has prepared the following budgets children and young teens, and an adut bat, designed for high school and college-aged players. Mata sells the bats to sporting goods stores and all sales are on account Mata's beiance sheet for December 31, 2014, follows IB (Click the lcon to view the balance sheet) T (Click the ioon to view the sales and production budgets) Data Table Additional data for Mata Bating Company (Cisk the lcon to view the data) Mata Batting Company Sales Budget For the Quarter Ended March 31, 2015 Requirement 1.Prepare Mata's schedules for cash rece pts from customers and cash payments for the first quarter of 2015 Begin by preparing the schedule for cash neceipts trom customers for the first quarter of 2015 Cash Receipts from Customers Adult Total First Quarter Budgeted bats to be sols 500 3.000 65 4,500 Sales price per unit S52.500 5 195.0005 247 500 Cash Recelpts from Customers: Accounts Receivable balance, December 31, 2014 st Gr--Saies Total cash receipts from customen Mata Batting Company Production Budget For the Quarter Ended March 31, 2015 Accounts Recelvable balance, March 31, 2015: t Qt-Sales, collected in 2nd Qt Total Budgeted bats to be sold 4.500 750 Plus: Desired bats in ending inventory Requirements Total bats needed Less: Bats in beginning inventory Budgeted bats to be produced 1,003450250 1,250 Enter any number in the ed 1. Prepare Mata's schedules for cash recejpts from customers and cash payments for the 1,300 2.700 ,000 fest quarter of 2015. 2. Prepare Mata's cash budget for the fiest quarter of 2015 Print Done For the Quarter Ended March 31, 2015 Adult Youth Total Bats Bats 2,700 10 4,000 1,300 Budgeted bats to be produced Direct materials cost per unit Direct materials needed for production Plus: Desired direct materials in ending inventory Total direct materials needed Less: Direct materials in beginning inventory Budgeted purchases of direct materials 8 $ $ 10,400 $ 27,000$ 37,400 11,000 48,400 11,000 $ 37,400 Mata Batting Company Direct Labor Budget For the Quarter Ended March 31, 2015 Youth Adult Bats Total Bats 4,000 0.25 1,000 20 6500Ls 13 50nlls20 000 2,700 0.25 1,300 Budgeted bats to be produced Direct labor hours per unit Direct labor hourbheeded for production Direct labor cost per hour 0.25 325 20 $ 675 20 $ Mata Tire Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2015 Youth Adult Total Bats Bats 1,300 0.75 0.7 4,000 Budgeted bats to be produced VOH* cost per bat Budgeted VOH Budgeted FOH" 2,700 5 $ 0.75 975 2.025 3,000 1,000 2,000 3,000 S6,000 Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs 675 1,000 325 Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate VOH-Variable Manufacturing Overhead "FOH - Fixed Manufacturing Overhead S6,000 6.00 Print Done Mata Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2015 Youth Adult Total Bats Bats 7,500 $ 2,750 20,250 51,625 Beginning inventory Bats produced and sold in 1st quarter of 2015 Total budgeted cost of goods sold 37,125 14,500 $22,000 $ 49,875 $ 71,875 Mata Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2015 $10,000 3,000 1,500 300 2,475 $ 17,275 Salaries Expense Rent Expense Insurance Expense Depreciation Expense Supplies Expense Total budgeted selling and administrative expense December 31, 2014 Assets Current Assets: $30,000 22,500 11,000 20,250 Cash Accounts Receivable Raw Materiars Inventory Finished Goods Inventory Total Current Assets $83,750 Property, Plant, and Equipment: Equipment 125,000 Less: Accumulated Depreciation(50,000) 75,000 $158,750 Total Assets Liabilities Current Liabilities: Accounts Payable $12,500 Stockholders Equity Common Stock 100,000 46,250 Retained Earnings 146,250 Total Stockholders' Equity $158,750 Total Liabilities and Stockholders' Eauit Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started