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I really really need help super fast please. I really appreciate it The Irwin Batting Company manufactures wood baseball bats, Irwin's two primary products are
I really really need help super fast please. I really appreciate it
The Irwin Batting Company manufactures wood baseball bats, Irwin'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. Irwin sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $60; the adult bat sells for $85. Irwin's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Irwin'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.) More info a. Budgeted sales are 2,000 youth bats and 3,600 adult bats. b. Finished Goods Inventory on December 31,2024 , consists of 350 youth bats at $15 each and 450 adult bats at $11 each. c. Desired ending Finished Goods Inventory is 500 youth bats and 250 adult bats: FIFO inventory costing method is used. d. Direct materials requirements are 40 ounces of wood per youth bat and 62 ounces of wood per adult bat. The cost of wood is $0.30 per ounce. e. Raw Materials Inventory on December 31,2024 , consists of 25,000 ounces of wood at $0.30 per ounce. f. Desired ending Raw Materials Inventory is 25,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.5 hours of direct labor; direct labor costs average $30 per hour. h. Variable manufacturing overhead is $0.70 per bat. (. Fivad manuifonturina nuinrhast indudae \&1 9 nn nar auartar in danroniatinn and h. Variable manufacturing overhead is $0.70 per bat. i. Fixed manufacturing overhead includes $1,200 per quarter in depreciation and $14,340 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; $1,900 per quarter for insurance; and $250 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 2% of sales. Data table Data table Data table Data table (1) Tim Requirement 3. Prepare Irwin's direct materials budget, direct labor budget, and manufacturing overhe Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base The Irwin Batting Company manufactures wood baseball bats. Irwin's two primary products are a youth bat, designed for childre Plus: Total direct materials needed Less: Budgeted purchases of direct materials Direct materials cost per ounce (D) Time Remainina: Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Requirement 4. Prepare Irwin's cost of goods sold budget for the first quarter of 2025. Youth Bats Adult Bats Total projected manufacturing cost per bat for 2025 Irwin Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 Total budgeted selling and administrative expense Step by Step Solution
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