The Cooke Batting Company manufactures wood baseball bats. Cooke'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. Cooke sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $55; the adult bat sells for $85. Cooke's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Cooke's balance sheet for December 31, 2018, and other data for the first quarter of 2019 follow:

The Cooke Batting Company manufactures wood baseball bats. Cooke'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. Cooke sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $55; the adult bat sells for $85. Cooke's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Cooke's balance sheet for December 31, 2018, and other data for the first quarter of 2019 follow: E: (Click the icon to view the balance sheet.) (Click the icon to view the other data.) Read the requirements. Requirement 1. Prepare Cooke's sales budget for the first quarter of 2019. Cooke Batting Company Sales Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Budgeted bats to be sold 2900 3900 1000 55 85 Sales price per unit 55000 246500 Total sales 301500 Requirement 2. Prepare Cooke's production budget for the first quarter of 2019. Cooke Batting Company Production Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Budgeted bats to be sold 1000 2900 Plus: Desired bats in ending inventory 250 500 Total bats needed 1250 3400 Less: Bats in beginning inventory 350 650 900 2650 Budgeted bats to be produced Total 3900 750 4650 1000 3650 Direct Materials Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Budgeted bats to be produced 900 2650 3650 44 58 39600 153700 193300 22000 Direct materials per bat (ounces) Direct materials needed for production Plus: Desired direct materials in ending inventory (ounces) Total direct materials needed Less: Direct materials in beginning inventory (ounces) Budgeted purchases of direct materials 215300 22000 215300 Direct materials cost per ounce .20 Budgeted cost of direct materials 43060 Dennan the disant laba budeat IC taran. bares Sant Amanta ta ta danimallanna VV Cooke Batting Company Direct Labor Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Budgeted bats to be produced 3650 900 3 2650 .3 Direct labor hours per unit 270 795 1065 Direct labor hours needed for production Direct labor cost per hour 30 30 30 8100 23508 Budgeted direct labor cost 31608 Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, X.XX. Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Review the production budget you prepared above. Review the direct labor budget you prepared above. Cooke Tire Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total 900 2650 3650 40 .40 .40 0 0 Budgeted bats to be produced VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH 1400 8090 9490 18980 Budgeted manufacturing overhead costs Requirement 4. Prepare Cooke's cost of goods sold budget for the first quarter of 2019. Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per bat for 2019. (Round all amounts to the nearest cent.) Youth Bats Adult Bats Direct labor cost per bat Manufacturing overhead cost per bat Direct materials cost per bat Total projected manufacturing cost per bat for 2019 Adult Cooke Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2019 Youth Bats Beginning inventory Bats produced and sold in 1st quarter of 2019 Total budgeted cost of goods sold Bats Total Requirement 5. Prepare Cooke's selling and administrative expense budget for the first quarter of 2019. Review the sales budget you prepared above. Cooke Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2019 Total budgeted selling and administrative expense i Data Table - Cooke Batting Company Balance Sheet December 31, 2018 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets 45,000 15,500 4,400 13,000 $ 77,900 115,000 (45,000) 70,000 $ 147,900 $ 16,500 Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 50,000 81,400 131,400 $ 147,900 a. Budgeted sales are 1,000 youth bats and 2,900 adult bats. b. Finished Goods Inventory on December 31, 2018, consists of 350 youth bats at $13 each and 650 adult bats at $13 each. c. Desired ending Finished Goods Inventory is 250 youth bats and 500 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 44 ounces of wood per youth bat and 58 ounces of wood per adult bat. The cost of wood is $0.20 per ounce. e. Raw Materials Inventory on December 31, 2018, consists of 22,000 ounces of wood at $0.20 per ounce. f. Desired ending Raw Materials Inventory is 22,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.3 hours of direct labor, direct labor costs average $30 per hour. h. Variable manufacturing overhead is $0.40 per bat. i. Fixed manufacturing overhead includes $1,400 per quarter in depreciation and $8,090 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $8,000 per quarter for salaries; $3,500 per quarter for rent; $1,100 per quarter for insurance; and $400 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales