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 college-aged players. Haney sells the bats to sporting goods stores and all sales are on account. The youth bat sells for 525, the adult bat sells for $70. Haney's highest sales volume is in the first three months of the year as retailors propare for the spring baseball season Haney'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 dato.) Read the requirements Requirement 1. Prepare Haney's sales budget for the first quarter of 2025 Haney Batting Company Sales Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Budgeted bats to be sold Sales price per unit Total sales > Data Table Balance Sheet December 31, 2024 Assets Current Assets: Cash $ 15,000 Accounts Receivable 22.500 Raw Materials Inventory 4.500 Finished Goods Inventory 17.400 Total Current Assets $ 59,400 Property. Plant, and Equipment Equipment 1150,000 Less: Accumulated Depreciation (40,000) 110.000 Total Assets $ 169,400 Liabilities Current Liabilities: Accounts Payable $ 12,500 Stockholders' Equity Common Stock, no par $ 50,000 VOEGFICTVOVCE Cash $ 15,000 Accounts Receivable 22,500 Raw Materials Inventory 4,500 Finished Goods Inventory 17,400 Total Current Assets $ 59,400 Property, Plant, and Equipment: Equipment 150,000 (40,000) Less: Accumulated Depreciation 110,000 Total Assets $ 169,400 Liabilities Current Liabilities: Accounts Payable GA $ 12,500 Stockholders' Equity Common Stock, no par $ 50,000 106,900 Retained Earnings Total Stockholders' Equity 156,900 Total Liabilities and Stockholders' Equity S 169,400 a. Budgeted sales are 1,800 youth bats and 3,300 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 700 youth bats at $17 each and 550 adult bats at $10 each. c. Desired ending Finished Goods Inventory is 550 youth bats and 240 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 46 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 30,000 ounces of wood at $0.15 per Ounce. f. Desired ending Raw Materials Inventory is 30,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.4 hours of direct labor; direct labor costs average $26 per hour. h. Variable manufacturing overhead is $0.70 per bat. i. Fixed manufacturing overhead includes $1,200 per quarter in depreciation and $2,976 per quarter for other costs, such as insurance and property taxes. 1. Fixed selling and administrative expenses include $7,000 per quarter for salaries; $3,000 per quarter for rent: $1,100 per quarter for insurance; and $250 per quarter for depreciation k. Variable selling and administrative expenses include supplies at 2% of sales. Requirement 1. Prepare Haney's sales budget for the first quarter of 2025. Haney Batting Company Sales Budget For the Quarter Ended March 31, 2025 You Adult Bat Bats Total Budgeted bats to be sold Sales price per unit Total sales Requirement 2. Prepare Haney's production budget for the first quarter of 2025. Haney Batting Company Production Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Plus: Total bats needed Loss: Budgeted bats to be produced Requeiranta. Prepare Haneye direct material bodou, direct laber budgerd manufacturing het budget for the two 2005 round the predelniced overneed location rate to two decima acee. The overed base direct labor hours Begin by preparing the direct materias buteet Haney Bating Company Direct Material Budget Quarter March 31, 3035 Aduh Youth Bats Total Direct materials per a funco) Directa eded for production Total de milers needed Budged purchases of doch mal Direct Coupon Budgeted cost of red mera Prepare and budowany name XXX Review the production you prepared about Haney Batting Company Direct Labor Budget For the Quarter Ended March 31, 2015 Youth Adul Hats Bats Total Direct laboe hours needed for production Budowled direct labor.com Prepare the manufacturing overhead budou (Enter any pertantunts to the dech places, Xxx Abbreve VOH Variable manufacturing Food acturing overed Review the production budget you prepared above Review the direct labor budget you prepared above Prepare the matching overhead budget any perso XXVOR FOR Review the production budget you prepared Review the director budget you prepared above Haneyeting Company Manufacturing Ovchod dont For the user Ended March 1, 2015 Youth AL Data Total VOH cost pertat Budad VOH BudOH Depreciate Tab POH Badglad maturing Oudho Bodenacturing Preminded Requirement 4. Prepare Hanay'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 but for 2025. Round al amounts to the nearest cant) Youth Bats Adults Total projected manufacturing cost per bat for 2025 Now prepare the cost of goods sold budget Review the sales budget you prepared above Review the production budget you prepared above Haney Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Bats produced and sold in 1st quarter of 2025 Total budgeted cost of goods sold Requirements. Prepare Haney's selling and administrative pense budget for the first quarter of 2025 Requirements. Prepare Haney's selling and administrative expense budget for the first quarter of 2025 Review the sales budget you prepared above. Haney Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 Total budgeted selling and administrative expenso