need to solve it , At the earliest
The Cocke Batting Company manufactures wood baseball bats, Cooke's two primary products are a youth bat, desigged for chiligon and yount teegek arat an aduit bat, designed for high school and college-aged players. Cooke sells the bats to sporting goods stores and al sales are on acoount. The yetith bat sells lice sab. sheet for December 31,2024 , and other data for the first quatter of 2025 follow (Cick the icon to view the bulance sheet) (1) (Cick the icon to viow tine other dithat) Read the tegulrements More info a. Budgeted sales are 1,600 youth bats and 3,200 adult bats. b. Finished Goods Inventory on December 31,2024 , consists of 200 youth bats at $12 each and 750 adult bats at $12 each. c. Desired ending Finished Goods Inventory is 200 youth bats and 520 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 42 ounces of wood per youth bat and 58 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 23,000 ounces of wood at $0.45 per ounce. f. Desired ending Raw Materials Inventory is 23,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.4 hours of direct labor; direct labor costs average $15 per hour. h. Variable manufacturing overhead is $0.60 per bat. i. Fixed manufacturing overhead includes $800 per quarter in depreciation and $1,942 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $7,000 per quarter for salaries; $4,500 per quarter for rent; $1,800 per quarter for insurance; and $250 per quarter for depreciation. i. Fixed manufacturing overhead includes $800 per quarter in depreciation and $1,942 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $7,000 per quarter for salaries; $4,500 per quarter for rent; $1,800 per quarter for insurance; and $250 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales. Requirements 1. Prepare Cooke's sales budget for the first quarter of 2025. 2. Prepare Cooke's production budget for the first quarter of 2025. 3. Prepare Cooke's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2025 . Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours. 4. Prepare Cooke's cost of goods sold budget for the first quarter of 2025 . 5. Prepare Cooke's selling and administrative expense budget for the first quarter of 2025 . Data table Liabilities Current Liabilities: Accounts Payable $11,600 Stockholders' Equity Common Stock, no par Retained Earnings $80,000112,550 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 192,550$204,150 Requirement 1. Prepare Cooke's sales budget for the first quarter of 2025
