Requirements 1. Prepare Vang's sales budget for the first quarter of 2025 . 2. Prepare Vang's production budget for the first quarter of 2025 . 3. Prepare Vang'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. 4. Prepare Vang's cost of goods sold budget for the first quarter of 2025. 5. Prepare Vang's selling and administrative expense budget for the first quarter of 2025. The Vang Batting Company manufactures wood baseball bats. Vang'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. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $50; the adult bat sells for $75. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang'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.) Read the Data table Requirement 1. Prepare Vang's sales budget for the first quarter of 2025. Requirements 1. Prepare Vang's sales budget for the first quarter of 2025 . 2. Prepare Vang's production budget for the first quarter of 2025 . 3. Prepare Vang'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. 4. Prepare Vang's cost of goods sold budget for the first quarter of 2025. 5. Prepare Vang's selling and administrative expense budget for the first quarter of 2025. The Vang Batting Company manufactures wood baseball bats. Vang'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. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $50; the adult bat sells for $75. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang'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.) Read the Data table Requirement 1. Prepare Vang's sales budget for the first quarter of 2025