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need some help with this one. The Vinson Batting Company manufactures wood baseball bsts Vinson's two primary products are a youth bat, deslgned for children
need some help with this one.
The Vinson Batting Company manufactures wood baseball bsts Vinson's two primary products are a youth bat, deslgned for children and young teens, and an adult bat, designed for high school and college-agod players. Vinson sells the bats to sporting goods stores and all sales are on account The youth bat sells for $60; the adult bat sells for $70. Virson's highest sales volume is in the first three months of the year as retalers prepare for the spring baseball season. Vinsoris balance sheet for December 31,2024 , and ofher 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 tequiriments Requirement 1. Prepare Vinson's salos budget for the first quarter of 2025 a. Budgeted sales are 2,000 youth bats and 2,700 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 550 youth bats at $10 each and 560 adult bats at $12 each $ c. Desired ending Finished Goods Inventory is 220 youth bats and 460 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 40 ounces of wood per youth bat and 54 ounces of wood per adult bat. The cost of wood is $0.45 per ounce. e. Raw Materials Inventory on December 31,2024, consists of 21,000 ounces of wood at $0.45 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 0.5 hours of direct labor; direct labor costs average $15 per hour. h. Variable manufacturing overhead is $0.70 per bat i. Fixed manufacturing overhead includes $1,400 per quarter in depreciation and $10,556 per quarter for other costs, such as insurance and property taxes j. Fixed selling and administrative expenses include $13,000 per quarter for h. Variable manufacturing overhead is $0.70 per bat. i. Fixed manufacturing overhead includes $1,400 per quarter in depreciation and $10,556 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $13,000 per quarter for salaries; $3,500 per quarter for rent; $1,700 per quarter for insurance; and $100 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales. Requirement 1. Prepare Vinson's sales budget for the first quarter of 2025. Requirement 2. Prepare Vinson's production budget for the first quarter of 2025. Direct Materials Budget For the Quarter Ended March 31, 2025 Direct materials per bat (ounces) Direct materials needed for production Plus: Total direct materials needed Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials Prepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, X.XX. Review the production budget you prepared above. Manufacturing Overhead Budget For the Quarter Ended March 31, 2025 VuH cost per bat Budgeted VOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Requirement 4. Prepare Vinson's cost of goods sold budget for the first quarter of 2025 . Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per bat Youth Bats Adult Bats Requirement 4. Prepare Vinson's cost of goods sold budget for the first quarter of 2025 . Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per bat for 2025 . Requirement 5. Prepare Vinson's selling and administrative expense budget for the first quarter of 2025 Requirement 5. Prepare Vinson's selling and administrative expense budget for the first quarter of 2025 Review the sales budget you prepared above Step by Step Solution
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