P22-47B (similar to) Question Help The Huber Batting Company manufactures wood baseball bats. Huber'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. Huber sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $60, the adult bat sells for $65. Huber's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Huber's balance sheet for December 31, 2018, and other data for the first quarter of 2019 follow Click the icon to view the balanc sheet.) (Click the icon to view the other data) Read the requirements Requirement 1. Prepare Huber's sales budget for the first quarter of 2019 Huber Batting Company Sales Budget For the Quarter Ended March 31, 2019 Youth Total Adult Bats Bats Budgeted bats to be sold Enter any number in the edit fields and then click Check Answer. 7 parts remaining Clear All Check Answer Data Table and Youth Hub Total Current Assets $ 46,700 Property, Plant, and Equipment: Equipment 135,000 (45,000) Less: Accumulated Depreciation 90,000 Total Assets 136,700 Liabilities Current Liabilities: Accounts Payable $ 12,800 Stockholders' Equity Common Stock, no par $ 100,000 22.000 Print Done Che Score: 7 i Data Table and yo nuf lege les data alar Vouth be Huber Less: Accumulated Depreciation (45,000) 90,000 Total Assets 136,700 Liabilities 's sa Current Liabilities: Batt 12,800 ales er E Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity 100,000 23,900 Yd B 123,900 Total Liabilities and Stockholders' Equity $ 136,700 fields Print Done Chec More Info X a. Budgeted sales are 1,900 youth bats and 2,900 adult bats. Finished Goods Inventory on December 31, 2018, consists of 200 youth bats at $13 b. each and 650 adult bats at $16 each. Desired ending Finished Goods Inventory is 500 youth bats and 460 adult bats; FIFO c. inventory costing method is used. Direct materials requirements are 52 ounces of wood per youth bat and 60 ounces of d. wood per adult bat. The cost of wood is $0.15 per ounce. Raw Materials Inventory on December 31, 2018, consists of 28,000 ounces of wood at e. $0.15 per ounce. Desired ending Raw Materials Inventory is 28,000 ounces (indirect materials are f. insignificant and not considered for budgeting purposes). g. Each bat requires 0.2 hours of direct labor; direct labor costs average $20 per hour. h. Variable manufacturing overhead is $0.70 per bat. Fixed manufacturing overhead includes $900 per quarter in depreciation and $3,519 per Print Done More Info Direct materials requirements are 52 ounces of wood per youth bat and 60 ounces of d. wood per adult bat. The cost of wood is $0.15 per ounce. Raw Materials Inventory on December 31, 2018, consists of 28,000 ounces of wood at e. $0.15 per ounce. Desired ending Raw Materials Inventory is 28,000 ounces (indirect materials are f. insignificant and not considered for budgeting purposes). g. Each bat requires 0.2 hours of direct labor; direct labor costs average $20 per hour. h. Variable manufacturing overhead is $0.70 per bat. Fixed manufacturing overhead includes $900 per quarter in depreciation and $3,519 per i. quarter for other costs, such as insurance and property taxes. Fixed selling and administrative expenses include $7,000 per quarter for salaries; $5,500 per quarter for rent: $1,600 per quarter for insurance; and $550 per quarter for j. depreciation. k. Variable selling and administrative expenses include supplies at 4% of sales. Print Done tures wood baseball bats. Huber's two primary products are a youth bat, designed for children a yo i Requirements - X In 1. Prepare Huber's sales budget for the first quarter of 2019. 2. Prepare Huber's production budget for the first quarter of 2019. 3. Prepare Huber's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2019. Round the predetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours. 4. Prepare Huber's cost of goods sold budget for the first quarter of 2019. 5. Prepare Huber's selling and administrative expense budget for the first quarter of 2019 Print Done Clear All