Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer ALL correctly. thanks a. Budgeted sales are 1,700 youth bats and 3,400 adult bats. b. Finished Goods Inventory on December 31,2024 , consists

please answer ALL correctly. thanks image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
a. Budgeted sales are 1,700 youth bats and 3,400 adult bats. b. Finished Goods Inventory on December 31,2024 , consists of 200 youth bats at $19 each and 440 adult bats at $13 each. c. Desired ending Finished Goods Inventory is 500 youth bats and 400 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 52 ounces of wood per youth bat and 60 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 28,000 ounces of wood at $0.30 per ounce. f. Desired ending Raw Materials Inventory is 28,000 ounces (indirect materials are 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 $0.90 per bat. i. Fixed manufacturing overhead includes $1,100 per quarter in depreciation and $2,652 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $12,000 per quarter for salaries; $3,000 per quarter for rent; $1,200 per quarter for insurance; and $300 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales. Data table Data table Liabilities Current Liabilities: Accounts Payable $17,300 Stockholders' Equity Common Stock, no par Retained Earnings $50,00093,520 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 143,520$160,820 fosa's balance steet for Decerteer 31, 2024, ans other data for the frst quatier of 2025 folow. (Cick the ioon to view the talance sheet] Click the ieon to view the ether dada) Prepare the direct labor budget, (Enter any hours por unit amounts to two decimal places, Xx,X.) Review the production budget you prepared above. Prepare the manulacturing owerhead budget. (Enter any per unit amounts to two decimal places, XX. Abbreviations used: voH = variable mamutacturing overfead, FOH = fined manuf Review the production budget you prepared above. Roviow the direct labor budget you prepared above. Sosa's balance sheet for December 31,2024 , and other dats for the find euartor of 2026 folow. Review the production budget you prepared abore. Reviow the dired labor budget you propared above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions