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The Haney Batting Company manulactures wood baseball bats. Haney'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. Haney sells the bats to sporting goods stores and all sales are on. account. The youth baf-sells for $20; the adult bat sells for $75. Haney's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Haney'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. More info a. Budgeted sales are 1,800 youth bats and 3,000 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 700 youth bats at $19 each and 750 adult bats at $20 each. c. Desired ending Finished Goods Inventory is 400 youth bats and 450 adult bats: FIFO inventory costing method is used. d. Direct materials requirements are 50 ounces of wood per youth bat and 62 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 21,000 ounces of wood at $0.15 per ounce. f. Desired ending Raw Materials Inventory is 21,000 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 $32 per hour. h. Variable manufacturing overhead is $0.80 per bat. i. Fived manufacturina nuarhaad includae $1 ann nar auartar in danraniation and h. Variable manufacturing overhead is $0.80 per bat. i. Fixed manufacturing overhead includes $1,200 per quarter in depreciation and $480 per quarter for other costs, such as insurance and property taxes. i. Fixed selling and administrative expenses include $6,000 per quarter for salaries: $4,500 per quarter for rent; $1,100 per quarter for insurance; and $100 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales. Data table Data table Property, Plant, and Equipment: Data table Data table \begin{tabular}{l||l||l||l|} \hline & Youth & \multicolumn{1}{c||}{ Adult } \\ & Bats & Bats & Total \\ \hline \hline Budgeted bats to be sold & & \\ Sales price per unit & & \\ Total sales & & \end{tabular} Requirement 3. Prepare Haney's direct materials budget, direct labor budget, and manufacturing overhe 2025. Round the predetermined overhead allocation rate to two decimal places. The overhead allocation Begin by preparing the direct materials budget. Direct 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 Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manulacturing overhead costs Requirement 4. Prepare Haney's cost of goods sold budget for the first quarter of 2025. Youth Bats Adult Bats Total projected manufacturing cost per bat for 2025 \begin{tabular}{l||l|ll|l|} \hline \hline Bouth & Bats & Adult & Bats & Total \\ \hline \hline Bats produced and sold in 1st quarter of 2025 & & & \\ \hline Total budgeted cost of goods sold & & & \\ \hline \end{tabular} Haney Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025