Homework: Chapter 22 Problems Save Score: 0 of 12 pts 1 of 1 (0 complete HW Score: 0%, 0 of 12 pts P22-38A (similar to) Question Help The Haney Batting Company manufactures wood baseball bats. Haney's two primary products are a youn bol, 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 sales are on account. The youth but sells for $30, the adult bat sols for 500 Honey's highest sales volume is in the first three months of the year as relates prepare for the spring baseball season. Hany's balance sheet for December 31, 2018, and other data for the first quarter of 2010 follow (Click the icon to view the balance sheet) Data Table More info Read the requirements Requirement 1. Prepare Haney's sales budget for the first quarter of 20 Haney Batting Company Sales Budget For the Quarter Ended March 31, 2010 Youth Adult Bats Total Budgeted bats to be sold Haney Batting Company Balance Sheet December 31, 2018 Assets Current Assets Budgeted sales are 1.100 youth bots and 3.400 adult bats Finished Goods Inventory on December 31, 2018, consists of 350 youth buts at 520 each and 850 adult bats at $10 each Desired ending Finished Goods Inventory is 550 youth bats and 460 ad FIFO inventory costing method is used Direct materials requirements are 46 ounces of wood per youth baland 58 punces of wood per adult bat. The cost of wood is $0 35 por ounce Raw Materials inventory on December 31, 2018, corists of 20,000 ounces of wood at $0 35 per ounce Desired ending Raw Materials Inventory is 20.000 unces (indirect materials are insignificant and not considered for being purposes) Each bat requires 0.6 hours of direct wor direct labor costs average 510 per Cash 40.000 21.600 10.150 15.500 Sales priceperunt Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, plant and pret Equipment Les Accumulated Depreciation $ 87 250 Requirements Variable marutacturing overhead is $0 70 per bal Fored manufacturing overhead includes $1.000 per quarter in depreciation and 514.085 per quarter for other costs, such as insurance and property 150.000 (65.000 85.000 172.250 5 Fixed selling and administrative expenses include $13,000 per quarter for salaries: 55.000 per center for rent: $1,100 per quarter for insurance and 5550 per quarter for depresion biseling and administrative expenses include supplies of sales Liabilities Prepare Haney's sales budget for the first quarter of 2019 Prepare Haney's production budget for the quarter of 2019 Prepare Haney's direct material budget direct labor budget and manufacturing overhead budget for the first quarter of 2019. Round the predetermined overhead location as to two decimal places. The overhead location base is direct labor hours. Prepare Haney's cost of goods sold budget for the first quarter of 2019 Prepare Haney's selling and administrative expense budget for the first quarter of 2019 Current Labs Accounts Payable $ 12,800 Print Done Stockholders' Equity $ 2 Common Stock, no per Retired Earrings 80,000 19,450 Check Answer Buat RA
