Prof Son of 12 The Sharpe Banting Company manufactures wood basebal bats. Sharpe's two primary products we a youth bat designed for children and your beers, and an out hatred for high school and college to sporting goods mores and all sies are on account. The youth bat sols for $58 the adult but sells for S70, Shape's highest le volume is in the first three months of the year as metais prepare for the end balance sheet for December 31, 2018, and other data for the first quarter of 2019 follow met on to view the balance sheet) (Click the icon to the other data) Read the requires Requirement 1. Precure Sharpe's salen budget for the first quarter of 2018 Sharpe Betting Company Sales Budget For the Quarter Ended March 31, 2018 Youth Adult Bats Total Bu gure but to be sold Balos pace per un Tools 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. Sharpe sells the bats for $55, the adult but sells for $70. Sharpe's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Sharpe's of 2019 follow icon to view the other data) Requirements 019 1. Prepare Sharpe's sales budget for the first quarter of 2019, 2. Prepare Sharpe's production budget for the first quarter of 2019 3. Prepare Sharpe'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 wlocation base is direct labor hours, 4. Prepare Sharpe's cost of goods sold budget for the first quarter of 2019, 5. Prepare Sharpe's selling and administrative expense budget for the first Quarter of 2010 Print Done Get More Help Company manufactures wood baseball bats. Sharpe's two primary products are a youth bot, designed for children and young teens, and an adult bat, designed for high school and col tores and all sales are on account. The youth bat sols for $55, the adult bat sells for $70. Sharpe's highest sales volume is in the first three months of the year as retailers prepare for tt December 31, 2018, and other data for the first quarter of 2019. follow to view the balance sheet) Click the - X Data Table ents Balance Sheet December 31, 2018 Assels repare Sharpe's sales budget for the first quarter of SharpeBatting Company Sales Budget or the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Current Assets Cash $ 22.000 for the first quarter of 2019 bdget for the first quarter of 2019 his budget, direct labor budget, a for the first quarter of 2019.Ro Lion rate to two decimal places purs sold budget for the first quarter ministrative expense budget for 20,300 10,350 19.150 he sold anit Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property. Plant, and Equipment Equipment Lass: Accumulated Depreciation S 71,800 110,000 (10,000) $ Done 100.000 171,800 Total Assets Liabilities Current Liabilities: Accounts Payable 12,800 Stockholders' Equity S Common Stock, no par B0.000 79,000 Retained Earnings Total Stockholders' Equity 159,000 aber in the edit fields and then click Check Answer Total Liabilities and Stockholders. Equity 5 171,800 Solve This - X More Info first quarter 019 Je first for the f dget, dir he first a ate to two It To budget strative e a. Budgeted sales are 1,000 youth bats and 3,000 adult bats. Finished Goods Inventory on December 31, 2018, consists of 400 youth bats at $16 b. each and 850 adult bats at $15 each. Desired ending Finished Goods Inventory is 450 youth bats and 350 adult bats; C. FIFO inventory costing method is used. Direct materials requirements are 42 ounces of wood per youth bat and 60 ounces d. of wood per adult bat. The cost of wood is $0.45 per ounce. Raw Materials Inventory on December 31, 2018, consists of 23,000 ounces of wood e. at $0.45 per ounce. Desired ending Raw Materials Inventory is 23,000 ounces (indirect materials are f. insignificant and not considered for budgeting purposes). 9. Each bat requires 0.6 hours of direct labor, direct labor costs average $32 per hour. h. Variable manufacturing overhead is $0.60 per bat. Fixed manufacturing overhead includes $400 per quarter in depreciation and 1. $14,510 per quarter for other costs, such as insurance and property taxes. Fixed selling and administrative expenses include $5,000 per quarter for salaries; $4,500 per quarter for rent: $1,700 per quarter for insurance; and $150 per quarter 1. for depreciation. k. Variable selling and administrative expenses include supplies at 3% of sales