The Irwin Batting Company manufactures wood baseball bats. Irwin's two primary products are a youth bat and an adult bat. Irwin sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $$35$ and the adult bat sells for $$50.$ Irwin's highest Sales Volume is the first three months of the year as the retailers prepare for spring baseball season.

Data for Irwin Batting Company for the first quarter of $2019$:

a$.$ Budgeted Sales are $1,400$ youth bats and $3,300$ adult bats.

b$.$ Finished goods inventory on December $31,2018,$ consists of $700$ youth bats at $$15$ each and $550$ adult bats at $$10$ each.

c$.$ Desired Finished goods inventory is $220$ youth bats and $300$ adult bats; FIFO inventory costing method is used.

d$.$ Direct material required are $40$ ounces of wood for the youth bat and $70$ ounces for the adult bat at a cost of $$\mathrm{.}10$ per ounce

e$.$ Raw materials inventory on December $31,2018$ consists of $90,000$ ounces of wood at $$\mathrm{.}10$ per ounce.

f$.$ Desired Raw Materials inventory is $90,000$ ounces$($indirect materials are insignificant and not considered for budgeting purposes$)$

g$.$ Each bat requires $0\mathrm{.}4$ hours of direct labor; direct labor costs average $$26$ per hour.

h$.$ Variable Manufacturing overhead is $$\mathrm{.}30$ per bat

i$.$ Fixed manufacturing overhead includes $$1,300$ per quarter in depreciation and $$14,977$ per quarter for other costs, such as insurance and property taxes.

j$.$ Fixed selling and administrative expenses include $$13,000$ per quarter for salaries; $$3,500$ per quarter for rent; $$1,400$ per quarter for insurance; and $$450$ per quarter for depreciation.

k$.$ Variable selling and administrative expenses include supplies at $1\%$ of sales.

Requirement

Prepare Irwin's sales budget for first quarter of $2019.$

Prepare Irwin's production budget for the first quarter of $2019.$

Prepare Irwin's direct materials, direct labor budget, and manufacturing budget for the first quarter of $2019.$ Round the predetermined overhead allocation to two decimal places. The overhead allocation base is direct labor hours.

Prepare Irwin's cost of goods sold budget for the first quarter of $2019$

Prepare Irwin's selling and administrative expense budget for the first quarter of $2019.$