Huber Company has the following post-closing trial balance on December 31, 2024: Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2025: (Click the icon to view the budgeting information.) Additional information: Direct materials purchases are paid 60% in the quarter purchased and 40% in the next quarter. b. Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter incurred. c. Accounts payable at December 31, 2024 are paid in the first quarter of 2025. Read the requirements. PM7-40A (similar to) Question He Data Table Data Table $ 306,000 Huber Company Post-Closing Trial Balance 36,000 Budgeted total sales, all on account Budgeted direct materials to be purchased and used Budgeted direct labor cost Budgeted manufacturing overhead costs: 11,500 December 31, 2024 Account Debit Credit Variable manufacturing overhead 2,000 Cash $ 45,000 1,000 Accounts Receivable 25,400 1,400 14,000 Depreciation Insurance and property taxes Budgeted cost of goods sold Budgeted selling and administrative expenses: 71,800 25,500 Raw Materials Inventory Finished Goods Inventory Equipment Accumulated Depreciation Accounts Payable 160,000 Salaries expense 14,000 1,000 10,000 Rent expense 14,500 Insurance expense 1,400 Common Stock Depreciation expense 100 120,000 125,400 3,060 Supplies expense Retained Earnings 250 ann c aca a00 Print Done Print Done i x Jelp Data Table se ar 2,000 1,000 1,400 71,800 14,000 Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted cost of goods sold Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense Budgeted cash receipts from customers Budgeted income tax expense Budgeted purchase and payment for capital expenditures (additional equipment) 1,000 1,400 100 3,060 263,000 45,000 39,000 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Huber Company has the following post-closing trial balance on December 31, 2024: Click the icon to view the post-closing trial balance.) The company's accounting department has gathered the following budgeting information for the first quarter of 2025: (Click the icon to view the budgeting information.) Additional information: Direct materials purchases are paid 60% in the quarter purchased and 40% in the next quarter. b. Direct labor, manufacturing overhead, selling and administrative costs, and income tax expense are paid in the quarter incurred. c. Accounts payable at December 31, 2024 are paid in the first quarter of 2025. Read the requirements. PM7-40A (similar to) Question He Data Table Data Table $ 306,000 Huber Company Post-Closing Trial Balance 36,000 Budgeted total sales, all on account Budgeted direct materials to be purchased and used Budgeted direct labor cost Budgeted manufacturing overhead costs: 11,500 December 31, 2024 Account Debit Credit Variable manufacturing overhead 2,000 Cash $ 45,000 1,000 Accounts Receivable 25,400 1,400 14,000 Depreciation Insurance and property taxes Budgeted cost of goods sold Budgeted selling and administrative expenses: 71,800 25,500 Raw Materials Inventory Finished Goods Inventory Equipment Accumulated Depreciation Accounts Payable 160,000 Salaries expense 14,000 1,000 10,000 Rent expense 14,500 Insurance expense 1,400 Common Stock Depreciation expense 100 120,000 125,400 3,060 Supplies expense Retained Earnings 250 ann c aca a00 Print Done Print Done i x Jelp Data Table se ar 2,000 1,000 1,400 71,800 14,000 Budgeted manufacturing overhead costs: Variable manufacturing overhead Depreciation Insurance and property taxes Budgeted cost of goods sold Budgeted selling and administrative expenses: Salaries expense Rent expense Insurance expense Depreciation expense Supplies expense Budgeted cash receipts from customers Budgeted income tax expense Budgeted purchase and payment for capital expenditures (additional equipment) 1,000 1,400 100 3,060 263,000 45,000 39,000 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity