i Data Table - X Huber Batting Company Balance Sheet December 31, 2024 Assets Current Assets: Cash $ 22,000 Accounts Receivable 21,600 Raw Materials Inventory 11,200 Finished Goods Inventory 20, 150 Total Current Assets $ 74,950 Property, Plant, and Equipment: Equipment 120,000 Less: Accumulated Depreciation (40,000) 80,000 $ 154,950 Total Assets Liabilities Current Liabilities: Accounts Payable 8,000 Stockholders' Equity Common Stock, no par $ 50,000 Retained Earnings 96,950 Total Stockholders Equity 146,950 Total Liabilities and Stockholders' Equity $ 154,950 Print DoneRequirement 3. Prepare Hubefs direct materials budget, direct labor budget, and manufacturing overhead budget for the rst quarter of 2025. Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours. Begin by preparing the direct materials budget, 0 More lnfo a. Budgeted sales are 1,100 youth bats and 3,100 adult bats, h. Finished Goods Inventory on December 31, 202-1, consists of250 youth hats at $16 each and 850 adult hats at $19 each, 1:. Desired ending Finished Goods lnventory is 200 youth bats and 500 adult bats; FIFO inventory costing method is used, d. Direct materials requirements are 4-4 ounces ofwood per youth bat and 64 ounces oi wood per adult bat. The cost ofvrrood is $0.40 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of2i3,000 ounces ofwood at $0.40 per ounce. f. Desired ending Raw Materials lnventory is 28,000 ounces (indirect materials are insignicant and not considered for budgeting purposes). 9. Each bat requires 05 hours of direct labor; direct labor costs average $30 per hour, h. Variable manufacturing overhead is $0.70 per bat. i. Fixed manufacturing overhead includes $400 per quarter in depreciation and $6,440 per quarter for other costs, such as insurance and property taxes. i. Fixed selling and administrative expenses include $5,000 per quarter for salaries; $3,000 per quarter for rent; $1,700 per quarter for insurance; and $100 per quarter for depreciation, Prepare the direct labor budget, (Enter any hours per unit amounts to two decimal places, XXX.) k. Vanahie selling and administrative expenses include supplies at 1% of sales, Budgeted bats to be produced Dired maids per bat (ounces) Dired mrier'irds neededfor prediction Plus: Desired direct materials in ending inventory (ounces) Totd tired: maerids needed Direct materials in beginning inventory (ounces) Budgeted purchases of tired maids Less: Dired materids cost per ounce Budgeted cost ofdred; materials Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, XXX. Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Review the production budget you prepared above. Review the direct labor budget you prepared above. Huber Batting Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation ratePrepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, XXX.) Review the production budget you prepared above. Huber Batting Company Direct Labor Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Direct labor hours needed for production Budgeted direct labor cost