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December 31, 2014 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory 30,000 22,500 11,000 20,250 $ Total Current Assets $ 83,750 Property, Plant, and Equipment: Equipment 125,000 (50,000) 75,000 Less: Accumulated Depreciation $ 158,750 Total Assets Liabilities Current Liabilities: Accounts Payable $ 12,500 Stockholders' Equity $ 100,000 46,250 Common Stock Retained Earnings 146,250 Total Stockholders' Equity $ 158,750 Total Liabilities and Stockholders' Equity Mata Batting Company Sales Budget For the Quarter Ended March 31, 2015 Youth Bats Adult Total Bats 3,000 4,500 Budgeted bats to be sold Sales price per unit Total sales 1,500 35 $ 65 $ 52,500195,000247,500 Mata Batting Company Production Budget For the Quarter Ended March 31, 2015 Youth Adult Total Bats Bats Budgeted bats to be sold Plus: Desired bats in ending inventory Total bats needed Less: Bats in beginning inventory Budgeted bats to be produced 1,500 3,000 450 4,500 750 5,250 1,250 4,000 300 1,800 3,450 750 500 2,700 1,300 Print Done ear Adult Youth Total Bats Bats 4,000 2,700 10 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 Dirset Labor Budget For the Quarter Ended March 31, 2015 Youth Adult Bats Bats Total Budgeted bats to be produced Direct labor hours per unit Direct labor hours needed for production Direct labor cost per hour Budgeted direct labor cost 4,000 0.25 1,000 20 6,500$ 13,500$ 20,000 1,300 0.25 325 2,700 0.25 675 20 S 20 $ Mata Tire Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2015 Adult Youth Total Bats Bats Budgeted bats to be produced VOH* cost per bat Budgeted VOH Budgeted FOH 4,000 0.75 1,300 0.75 $0.75 $ 2,700 975 $ 2,025 3,000 Depreciation 1,000 2,000 3,000 $6,000 Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate VOH-Variable Manufacturing Overhead "FOH- Fixed Manufacturing Overhead 325 675 1,000 $ 6,000 6.00 Mata Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2015 Adult Bats $7,500 $ 12,750$ 20,250 Youth Bats Total Beginning inventory Bats produced and sold in 1st quarter of 201514,50037,12551,625 Total budgeted cost of goods sold 22,0001 $ 49,875|$ 71,875 Mata Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2015 Salaries Expense Rent Expense Insurance Expense Depreciation Expense Supplies Expense Total budgeted selling and administrative expense 10,000 3,000 1,500 300 2,475 $ 17,275