The Haney Batting Company manufactures wood baseball bats. Haney's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and colege-aged payers Haney the bo sporting goods stores and all sales are on account. The youth bat sells for 500: the adut bat sels for $85. Haney's highest sales volume is in the first three months of the year as readers precare for the spring baseball season. Haney's balance sheet for December 31, 2018, and other data for the first quarter of 2019 flow (Click the icon to view the balance sheet) (Click the icon to view the other data) Read the requirements More info Direct labor cost per ba Manufacturing overhead cost per bet Total projected manufacturing cost per bat for 2019 Now prepare the cost of goods sold budget Review the seles budget you prepared at Heview the production budget you prapaced above of Goods Bold Budget 750 7.50 1.80 130 24.301 27.30 Haney Batting Company Cost For the Quarter Ended March 31, 2019 Beginning inventory Bats produced and sold in 1st quarter of 2010 Youth Bats Adult Total 12.000 $ 15.900 S 27,000 Budgeted sales are 1,000 youth buts and 3.500 adult bis Frished Goods Inventory on December 31, 2018, costs of 600 youth best 520 beach and 840 aout bats at $10 each Desret ending Frished Goods Inventory is 300 youth bats and 400 at b FIFO inventory costing method i d of wood at bat. The ost of wood 80 30 per un Row Mattals inventory on Decenter 31, 2018, cow 50304 Desired ending a Mary 23,000 ou tingficant and not considered for top h. Vastie manufacturing everheat 50.00 per ba of 23.000 d Faed manufacturing overhead includes 31.000 per quarter in depreciation and L83,194 per quarter for others such as nance and property taxes Fixed seling and aristative experses include $14.000 per quenter for salar $4,000 per quarter for rent $1300 per gater for insure and $450 per quarter k Vasable song and adave expenses include spat 1% of Tolal budgeted cost of goods sold Check answer The Haney Bating Company manufactures wood baseball bats. Haney'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. Haney sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $60, the adut bat sels for $85. Haney's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Haney's balance sheet for December 31, 2018, and other data for the first quarter of 2019 follow (Click the icon to view the other data) (Click the icon to view the balance sheet) Read the requirements More info Direct labor cost per bat 7.50 7.50 Manufacturing overhead cost per bat 1.80 1.80 27.30 Total projected manufacturing cost per bat for 2019 Now prepare the cost of goods sold budget Review the sales budgetyou.da Review The production budget you prepared above. Haney Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2019 Beginning inventory But produced and sold in 1st quarter of 2019 Total budgeted cost of goods sold Youth Bats Adult Bat Total 12,000 $15,960 $ a Budgeted sales are 1,000 youth bats and 3.500 adult bats Finished Goods Inventory on December 31, 2018, consists of 600 youth bas$20 b. each and 840 adult bats at $19 each Desired ending Finished Goods Inventory is 300 youth bats and 400 adult be FIFO inventory costing method is used Direct materials requirements are 50 ounces of wood per youth bat and 60 ounces d of wood per adult bat. The cost of wood is $0.30 per ounce. Raw Materials Inventory on December 31, 2018, consists of 23,000 ounces of wood at $0.30 per ounce Desired ending Raw Materials Inventory is 23,000 ounces indirect materials are insignificant and not considered for budgeting purpos g. Each bat requires 0.3 hours of direct labor, direct labor costs average $25 per hour h. Variable manufacturing overhead is $0.90 per ba Fixed manufacturing overhead includes $1,000 per quarter in depreciation and $3,194 per quarter for other costs, such as insurance and property taxes Fixed seting and administrative expenses include $14,000 per quarter for $4,000 per quarter for rent $1,300 per quarter for insurance; and 5450 per quar for depreciation Variable selling and administrative expenses include supplies at 1% of sales