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- X Requirements 1. Prepare Sosa's sales budget for the first quarter of 2025. 2. Prepare Sosa's production budget for the first quarter of 2025. 3. Prepare Sosa'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 Sosa's cost of goods sold budget for the first quarter of 2025. 5. Prepare Sosa's selling and administrative expense budget for the first quarter of 2025 Print Done Sosa Batting Company Balance Sheet December 31, 2024 Assets Current Assets Cash $ 22,000 Accounts Receivable Raw Materials Inventory 22,500 4,600 22,550 $ 71,650 Finished Goods Inventory Total Current Assets Property. Plant, and Equipment Equipment Less: Accumulated Depreciation 160.000 (20,000) 140.000 211,650 Total Assets Liabilities Current Liabilities: Accounts Payable 12800 Stockholders' Equity $ Common Stock, no par 80,000 118,850 Retained Eamings Total Stockholders' Equity 198,850 $ 211,650 Total Liabilities and Stockholders' Equity Print Done i More Info - a. Budgeted sales are 1,400 youth bats and 3,400 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 700 youth bats at $20 each and 450 adult bats at $19 each. c. Desired ending Finished Goods Inventory is 400 youth bats and 450 adult bats, FIFO inventory costing method is used. d. Direct materials requirements are 44 ounces of wood per youth bat and 62 ounces of wood per adult bat. The cost of wood is $0.20 per ounce e. Raw Materials Inventory on December 31, 2024, consists of 23,000 ounces of wood at $0.20 per ounce. f. Desired ending Raw Materials Inventory is 23,000 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 $10 per hour h. Variable manufacturing overhead is $0.70 per bat. . Fixed manufacturing overhead includes $600 per quarter in depreciation and $750 per quarter for other costs, such as insurance and property taxes. Fixed selling and administrative expenses include $12.000 per quarter for salaries $1,000 per quarter for rent: $1,500 per quarter for insurance and $400 per quarter for depreciation K. Variable selling and administrative expenses include supplies at 2% of sales Print Done The Sosa Batting Company manufactures wood baseball bats Sosa's two primary products are a youth bat, designed adult bat sells for $75. Sosa's highest sales volume is in the first three months of the year as retailers prepare for the se Click the icon to view the balance sheet.) (Click the icon to view the other data) Read the requirements two primary products are a youth bat, designed for children and young teens, and an adult hat, designed for high school and college-aged players Sosa sells the bats to sportin months of the year as relailers prepare for the spring baseball season Sosa's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow he icon to view the other dat lege-aged players. Sosa sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $25, the data for the first quarter of 2025 follow. t. The youth bat sells for $25; the The Sosa Batting Company adult bat sells for $75. Sosa 88 (Click the icon to view t Read the requirements The Sosa Batting Company manufactures wood baseball bats. Sosa's two primary products are a youth bat, designed for chil adult bat sells for $75 Sosa's highest sales volume is in the first three months of the year as retailers prepare for the spring b B Click the icon to view the balance sheet) (Click the icon to view the other data) Read the requirements Ronnicament 1 Pranare Sara's sales hudget for the first quarter of 2025 bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Sosa sells the bats to sport epare for the spring baseball season. Sosa's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow for high school and college-aged players Sosa sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $25: the er 31, 2024, and other data for the first quarter of 2025 follow