REP Question 1 of 3 Data table The Langley Batting Company manufactures wood baseball bats. Langley's two primary produ high school and college-aged players. Langley sells the bats to sporting goods stores and all so Langley Batting Company highest sales volume is in the first three months of the year as retailers prepare for the spring b first quarter of 2025 follow: Balance Sheet (Click the icon to view the balance sheet.) i (Click the icon to view the other December 31, 2024 Read the requirements. Assets Current Assets: Cash 30,000 Accounts Receivable 16,700 Requirement 1. Prepare Langley's sales budget for the first quarter of 2025. Raw Materials Inventory 6,000 Langley Batting Company Finished Goods Inventory 21,300 Sales Budget $ 74,000 For the Quarter Ended March 31, 2025 Total Current Assets Youth Adult Property, Plant, and Equipment: Bats Bats Total Equipment 130,000 (50,000) 80,000 Budgeted bats to be sold Less: Accumulated Depreciation $ 154,000 Sales price per unit Total Assets Liabilities Total sales Current Liabilities: Requirement 2. Prepare Langley's production budget for the first quarter of 2025. Accounts Payable $ 15,200 Langley Batting Company Stockholders' Equity Production Budget Common Stock, no par $ 90,000 For the Quarter Ended March 31, 2025 Retained Earnings 48,800 Youth Adult Total Stockholders' Equity 138,800 Bats Bats Total 154,000 Total Liabilities and Stockholders' Equity $ Plus: Total bats needed Less: Print Done Budgeted bats to be produced Requirement 3. Prepare Langley's direct materials budget. direct labor budget. and manufacturing r the f t quarter of 2025. Round the n verheadThe Langley Batting Company manufactures wood baseball bats. Langley'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. Langley sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the rst three months of the year as retailers prepare for the spring baseball season. Langley's balance sheet for December 31, 2024, and other data for the rst quarter of 2025 follow: .Click the icon to view the balance sheet.) 0 (Click the icon to view the other data.) Read the muirements. l|_ Direct materials per bat (ounces) Direct materials needed for production Plus: I Total direct materials needed Less: I 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. The Langley Batting Company manufactures wood baseball bats. Langley'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. Langley sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the rst three months of the year as retailers prepare for the spring baseball season. Langley's balance sheet for December 31, 2024, and other data for the rst quarter of 2025 follow: .Click the icon to view the balance sheet.) 0 (Click the icon to view the other data.) Read the @uirements. Direct labor hours needed for production Budgeted direct labor cost Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, X.XX. Abbreviations used: VOH = variable manufacturing overhead; FOH = xed manufacturing overhead.) Review the production budget you prepared above. Review the direct labor budget you prepared above. VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH The Langley Batting Company manufactures wood baseball bats. Langley'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. Langley sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the rst three months of the year as retailers prepare for the spring baseball season. Langley's balance sheet for December 31, 2024, and other data for the rst quarter of 2025 follow: .Click the icon to View the balance sheet.) 0 (Click the icon to view the other data.) Read the muirements. Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Requirement 4. Prepare Langley's cost of goods sold budget for the rst quarter of 2025. Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per bat for 2025. (Round all amounts to the nearest cent.) Youth Bats Adult Bats | | l| |::l Total projected manufacturing cost per bat for 2025 = =| Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. The Langley Batting Company manufactures wood baseball bats. Langley'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. Langley sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the rst three months of the year as retailers prepare for the spring baseball season. Langley's balance sheet for December 31, 2024, and other data for the rst quarter of 2025 follow: .Click the icon to view the balance sheet.) 0 (Click the icon to view the other data.) Read the re_quirements. Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. ll___ Bats produced and sold in 1st quarter of 2025 Total budgeted cost of goods sold Requirement 5. Prepare Langley's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. Total budgeted selling and administrative expense The Langley Batting Company manufactures wood baseball bats. Langley'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. Langley sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the rst three months of the year as retailers prepare for the spring baseball season. Langley's balance sheet for December 31, 2024, and other data for the rst quarter of 2025 follow: a (Click the icon to view the b. Read the @uirements. More info Now prepare the cost of goods ~ . Budgeted sales are 1,200 youth bats and 2,600 adult bats. Review the sales budget you Dr . Finished Goods Inventory on December 31, 2024, consists of 300 youth bats at $14 Review the production budget y each and 950 adult bats at $18 each. Desired ending Finished Goods Inventory is 350 youth bats and 300 adult bats; FIFO inventory costing method is used. . Direct materials requirements are 48 ounces of wood per youth bat and 56 ounces of wood per adult bat. The cost of wood is $0.25 per ounce. Raw Materials Inventory on December 31, 2024, consists of 24,000 ounces of wood at $0.25 per ounce. Desired ending Raw Materials Inventory is 24,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). 9. Each bat requires 0.7 hours of direct labor; direct labor costs average $18 per hour. Bats produced and 50"! in 15' q . Variable manufacturing overhead is $0.30 per bat. Total budgeted cost of goods s- '. Fixed manufacturing overhead includes $1,300 per quarter in depreciation and $20,140 per quarter for other costs, such as insurance and property taxes. Requirement 5- Prepare Langl- '. Fixed selling and administrative expenses include $9,000 per quarter for salaries; $2,500 per quarter for rent; $1,000 per quarter for insurance; and $200 per quarter for depreciation. . Variable selling and administrative expenses include supplies at 2% of sales. Review the sales budget you pr Total budgeted selling and administrative expense