The Puckett Batting Company manufactures wood basevall bats. Puckett's two primary products are a youth bat, designed for children and yound teens, and an adult bat, designed for high school and college-aged players. Pucketts sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $60; the adult bat sells for $65. Puckett's higgest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Puckett's balance sheet for December 31, 2024 and other data for the first quarter of 2025 follow:

The Pocket Better Company manutdures wood bambolas. Puder primary products we a youth bat designed for children and young and an adult be designed for high school and college aged players Pudelt sells the balstoting good stores and sales are on account the youth bold for the soul bote for 566. Pedes highest sales volume is in the five months of the years tales repare for the spring hebal season Puderbance sheet for December 31, 2024 and data for the Best of 2025 follow Click the icon to view the last i thot vw the other) 1. Prepare Padites 205 Data table - - Puckett Batting Company Balance Sheet December 31, 2024 Assets Current Assets Cash $ 35.000 21,600 13.050 17,460 Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property. Plant, and Equipment Equipment Less: Accumulated Depreciation 5 5 87.110 145,000 (70,000) 75,000 Total Assets A $ 162,110 Liabilities Current Liabilities Accounts Payable $ 9,000 Stockholders' Equity $ Common Stock, no par 120.000 33.110 Retained Earnings Total Stockholders' Equity 153, 110 Total Liabilities and Stockholders' Equity S 162,110 More info a. Budgeted sales are 2,000 youth bats and 3,500 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 450 youth bats at $18 each and 720 adult bats at $13 each. c. Desired ending Finished Goods Inventory is 400 youth bats and 520 adult bats, FIFO inventory costing method is used. d. Direct materials requirements are 42 ounces of wood per youth bat and 60 ounces of wood per adult bat. The cost of wood is $0.45 per ounce e. Raw Materials Inventory on December 31, 2024, consists of 29,000 ounces of wood at $0.45 per ounce f. Desired ending Raw Materials Inventory is 29,000 ounces (indirect materials are insignificant and not considered for budgeting purposes) g. Each bat requires 0.6 hours of direct labor, direct labor costs average $20 per hour. h. Variable manufacturing overhead is $0.40 per bat i. Fixed manufacturing overhead includes $800 per quarter in depreciation and $16,000 per quarter for other costs, such as insurance and property taxes. 1. Fixed selling and administrative expenses include $7,000 per quarter for salaries; $4,000 per quarter for rent, $2,000 per quarter for insurance, and $350 per quarter for depreciation k. Variable selling and administrative expenses include supplies at 2% of sales. Print Done Requirement 1. Prepare Puckett's sales budget for the first quarter of 2025 Puckett 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 Requirement 2. Prepare Puckett's production budget for the first quarter of 2025. Requirement 2. Prepare Puckett's production budget for the first quarter of 2025. Puckett Batting Company Production Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Plus Total bats needed Less Budgeted bats to be produced Requirement 3. Prepare Puckett'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. Begin by preparing the direct materials budget Puckett Batting Company Direct Materials Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Direct materials per bat (ounces) Direct materials needed for production Plus: Total direct materials needed Loss Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materials Prepare the direct labor budget (Enter any hours per unit amounts to two decimal places, XXX) Review the production budget you prepared above Prepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, X.XX.) Review the production budget you prepared above. Puckett Batting Company Direct Labor Budget For the Quarter Ended March 31, 2025 Youth Bats Bats Total Adult Direct labor hours needed for production Budgeted direct labor cost 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 Review the production budget you prepared above. Review the direct labor budget you prepared above. Puckett Batting Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Requirement 4. Prepare Puckett'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 bat for 2025 (Round all amounts to the nearest cent) Youth Bats Adult Bats Total projected manufacturing cost per bat for 2025 Now prepare the cost of goods sold budget. D Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. Puckett 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 Requirement 5. Prepare Puckett's selling and administrative expense budget for the first quarter of 2025. Requirement 5. Prepare Puckett's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. Puckett Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 Total budgeted selling and administrative expense The Puckett Batting Company manufactures wood baseball bats. Puckett's two primary products are a youth bat designed for children and young toons, and an adult bat designed for high school and college-aged players. Puckelt sells the bats to sporting goods stores and all sales are on account. The youth bat sells for 560 the adult bat sells for $65. Puckett's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season Pucketrs 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