Requirement 1. Prepare Puckett's sales budget for the first quarter of 2025
Requirement 2. Prepare Puckett's production budget for the first quarter of 2025. Requirement 3. Prepare Puckett'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.
Requirement 4. Prepare Puckett's cost of goods sold budget for the first quarter of 2025.
Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per bat for 2025.
Requirement 5. Prepare Puckett's selling and administrative expense budget for the first quarter of 2025. 
The Puckett Batting Company manufactures wood baseball bats. Puckett'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. Puckett sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $60; the adult bat sells for $70. Puckett's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Puckett's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: (Click the icon to view the balance sheet.) (Click the icon to view the other data.) Data Table More Info a. Budgeted sales are 1,400 youth bats and 2,900 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 250 youth bats at $13 each and 850 adult bats at $10 each. C. Desired ending Finished Goods Inventory is 550 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 60 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 20,000 ounces of wood at $0.15 per ounce. f. Desired ending Raw Materials Inventory is 20,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.6 hours of direct labor; direct labor costs average $16 per hour. h. Variable manufacturing overhead is $0.90 per bat. i. Fixed manufacturing overhead includes $400 per quarter in depreciation and $18,815 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $13,000 per quarter for salaries; $4,500 per quarter for rent; $1,600 per quarter for insurance; and $50 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales. Puckett Batting Company Balance Sheet December 31, 2024 Assets Current Assets: Cash $ 35,000 Accounts Receivable 23,200 Raw Materials Inventory 3,000 Finished Goods Inventory 11,750 Total Current Assets $ Property, Plant, and Equipment: Equipment 145,000 Less: Accumulated Depreciation (60,000) $ Total Assets Liabilities Current Liabilities: Accounts Payable $ Stockholders' Equity Common Stock, no par $ 130,000 Retained Earnings 10,650 Total Stockholders' Equity $ Total Liabilities and Stockholders' Equity 72,950 5,000 157,950 17,300 Print Done ring overhead budget for the first quarter of 2025. Round the predetermined 140,650 urs. 157,950 Print Done Total
