The Huber Batting Company manufactures wood baseball bats. Huber'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. Huber sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $45; the adult bat sells for $60. Huber's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Huber'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 requirements. More info - X Data table Huber Batting Company Balance Sheet December 31, 2024 Assets a. Budgeted sales are 1,400 youth bats and 3,200 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 600 youth bats at $17 each and 560 adult bats at $14 each. c. Desired ending Finished Goods Inventory is 400 youth bats and 250 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 42 ounces of wood per youth bat and 54 ounces of wood per adult bat. The cost of wood is $0.35 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 30,000 ounces of wood at $0.35 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 0.3 hours of direct labor; direct labor costs average $16 per hour. h. Variable manufacturing overhead is $0.70 per bat. i. Fixed manufacturing overhead includes $1,400 per quarter in depreciation and $9,234 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $6,000 per quarter for salaries; $4,000 per quarter for rent; $1,200 per quarter for insurance; and $50 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 4% of sales. Requirements 1. Prepare Huber's sales budget for the first quarter of 2025. 2. Prepare Huber's production budget for the first quarter of 2025. 3. Prepare Huber'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 Huber's cost of goods sold budget for the first quarter of 2025. 5. Prepare Huber's selling and administrative expense budget for the first quarter of 2025. Print Done Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation Total Assets Current Liabilities: Print Done Begin by preparing the direct materials budget. Huber Batting Company Liabilities 15,000 22,800 10,500 18,040 66,340 150,000 (40,000) 110,000 $ 176,340 Accounts Payable 17,300 Stockholders' Equity Common Stock, no par $ 60,000 99,040 Retained Earnings 159,040 Total Stockholders' Equity $ 176,340 Total Liabilities and Stockholders' Equity budget for the first quarter of 2025. Round the predetermined overhead allocation rate to two decimal places. Print Done - X