The Sosa Bating Company manufactures wood baseball bats Sosa's two primary products are a youth bat, designed for chiden and yourg leens, and an adut bat, designed for high school and college aged players Sosa sels he bats to sporting goods stores and all sales are on account The youh bat sels for $45 the adu bat sels for S85 Sosa's highest sales volume is in the frst three months of the year as etalers prepare for the speng baebal season Sosa's balance sheet for December 31, 2018, and other data for the frst quater of 2019 olow (Cck the icon to view the balance sheel) Clck the icon to view the ofther data) Read the reauirements Requirement 1. Prepare Sosa's sales budget for the first quarter of 2019 Sosa Batting Company Sales Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Budgeted bats to be sold Sales price per unit Total sales Requirement 2. Prepare Sosa's production budget for the Srst quarter of 2019 Sosa Batting Company Production Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Plus Total bats needed Choose from any lat or onter any number in the input Selds and then continue to the naxt question The Sosa Batting Company manufactures wood baseball bats Sosa's two primary products are a youth bat, designed for chidren and young leans, and an adult bat, designed for high school and collegeaged players Sosa sels the bals to sporting goods stores and all sales are on acoount. The youth bat sels for $45, the adut bat sels for $85 Sosa's highest sales volume is in the firt three months of the year as retalers prepare for the spring baseball season. Sosa's balance sheel for December 31, 2018, and other data for the first quarter of 2019 folow m(Ock the icon to view he belance sheet ) (Cick the lcon to view the other dala Read the requirements Plus Total bas needed Less Budgeted bats to be produced Requirement 3. Prepare Sosa's direct materials budget direct labor budget, and manutacturing overhead budget for the first quarter of 2019 Round the predetermined overhead alocation rate to two decimal places. The overhead alocations bese is diret labor hours Begin by preparing the direct materials budget Sosa Batting Company Direct Materials Budget For the Quarter Ended Mareh 31, 20190 Youth Adut Bats Bats Total Direct materials per bat (ounces) Direct materials needed for production Pus Total direct maerials needed Lens hoose from any lst or enter any number in the input fields and then continue to the next question The Sosa Bating Company manufactures wood baseball bats. Sosa's two primary products are a youth bat designed for children and young teens, and an adut bal, designed for high school and colege-aged players Sosa sells the bats to sporting goods stores and all sales are on account. The youtth bat sels for $45, the adut bat sells for $85. Sosa's highest saes volume is in the frst three months of the year as retalers prepare for the spring baseball season Sosa's balancer sheet for December 31, 2018, and other data for the frst quaner of 2019 folow m(Cick the loon to view the baance sheet) Click the ioon to view the other data.) Read the requirements Total direct materials needed Less Budgeted purchases of direct maerialsa Direct maerials cost per ounce Budgeted cost of drect materials Prepare the direct labor budget Enter any hours per unit amounts to two decimal places, XXX) Review the production budget you prepared above Sosa Bating Cempany Direct Labor Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Direct iabor hours needed for production Budgeted direct labor cost Prepare the manufacturing overhead budget (Enter any per unit amounts two decimal places, XXX. Abbreviations used VOH variable manufacturing overhead, FOH feed manufacturing overhead) Revime the nev hr un nat ahue Choose from any list or enter any number in the input fields and then continue to the next question. The Sosa Bating Compary mandacures wood basetal bats Soua's two primary products are a youh bat desg for chdn and young eens, and an adut bet, designed for high scheol and colege aged players Sosa ses the bats tor spoting goods stores and a saes are on account The youh bal sels for $45 the adl bat sels for s05 So's hest saes volume i in he fr te monts of the year as wtalers prepae for the spring basebal season Sosa's balance sheet for December 31, 2018 ad other daa for the frt uater of 2019 oow m(Clck the loon to view the balance sheet) 0(Oic the on to view the oher data) Read the reauirements Prepare the manufacturing overhead buge Ener any per unt amounts to teo decimal pces XXX Atreviaions used VOHaiable manudacturing overteat, FOH aed mandacturing overnead) Review the production butget you prepared above Review he direct labor budget you prepared above Soss Tire Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total VOH cost per bat Budgeted VOH Budgeled FO Depreciation insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manuacturing overhead costs Predetemined overhead alocation rate Choose from any list or enter any number in the input fields and then continue to the next question The Soss Bating Compary manufactures wood baseball bats sporting goods stores and all sales are on account The youth bat sells for $5e ane ayouth bat, designed for chidren and young leens, and an adull bat, designed for high school and colegeeged glayers Scsa sels the tats to sheet for December 31, 2018, and other daa for the fist quater of 2019 folow Sosa's two primary products s85 Sosa's highest sales volume is in the first three months of the year as talers prepare for the spring basebal season Sosa's balance m(Ok he oon to view the baance sheet) (Click the lcon to view the other dela) Read the eauiements Requirement 4 Prepare Sosa's cost of goods sold bulget for the frst quarter of 2019 Before preparing the cost of goods sold buget, calculate the projected manufacturing cost per bat for 2019 (Hound all amounts to the nearet cent) Youth Bats Adut Bats Total projected manufacturing cost per bet for 2019 Now prepare the cost of goods sold budget Review the sales budget you prepared above. Review the production budget you prepared above Sosa Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2019 Youth Adut Bats Bats Total Bals produced and sold in 1st quarter of 2019 Total budgeted cost of goods soid Requirement 5. Prepare Sosas seling and administrative expense budget for the first quarter of 2019. Choose from any list or ender any number in the input fields and then continue to he next question The Sose Batting Company manutactures wood basebal bats Sosa's two primary products are a youh bat, dosigned for chidren and yourg teens, and an adult bat, designed for high school and colege-aged players Sosa sels the bats to sporsing goods stores and all sales are on account The youth bat sells for $45 the adut bat sels for $85 Sosa's highest sales volume is in the frst three months of the year as realers prepare for the spring baneball season Sosa's balance sheet for December 31, 2018, and other data for the first quaer of 2019 follow (Olck the ioon to view the balance sheet) (Cik the icon to view the other data) Read the requirements Sosa Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Bats produced and sold in 1st quarter of 2015 Total budgeted cost of goods sold Requirement 5. Prepare Sosa's seling and administrative expense budget for the frst quarer of 2019 Review the sales budget you prepared above Sosa Balting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2019 Total budgeted seling and administrative expenser Choose from any ist or enter any number in the input fields and then continue to the next question. 3 of 6 (0 complete) gned for high school ar as retailers prepa Osa's two sells for of 2019 fo Data Table ck the ico Balance Sheet December 31, 2018 Assets Current Assets: Cash 32,000 019 Accounts Receivable 20,300 Ad Raw Materials Inventory Ba 4,500 14,100 Finished Goods Inventory Total Current Assets 70,900 Property, Plant, and Equipment: Equipment 135,000 se budget (35,000) 100,000 Less: Accumulated Depreciation 170,900 Total Assets Liabilities Current Liabilities: Accounts Payable S 12,500 Stockholders' Equity Common Stock, no par 70,000 Retained Eamings 88,400 Total Stockholders' Equity 158,400 Total Liabilities and Stockholders' Equity 170,900 nd then d Print Done factures wood baseball bats. Sosa's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high schc s are on account. The youth bat sells for $45; the adult bat sells for $85. Sosa's highest sales volume is in the first three months of the year as retailers pre other data for the first quarter of 2019 follow ance sheet.) i (Click the icon to view the other data.) More Info Sosa Batting Company Cost of Goods Sold Budget Budgeted sales are 1,700 youth bats and 3,200 adult bats. b. Finished Goods Inventory on December 31, 2018, consists of 550 youth bats at $15 each and 450 adult bats at $13 each. a. ne Quarter Ended March 31, 2019 Youth Adu c. Desired ending Finished Goods Inventory is 500 youth bats and 500 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 40 ounces of wood per youth bat and 54 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2018, consists of 30,000 ounces of wood at $0.15 per ounce. Bats Bat arter of 2019 Desired ending Raw Materials Inventory is 30,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). Each bat requires 0.4 hours of direct labor, direct labor costs average $20 per f. selling and administrative expense budget g. hour ared above. g Company h. Variable manufacturing overhead is $0.70 per bat i. Fixed manufacturing overhead includes $900 per quarter in depreciation and ative Expense Budget $13,310 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $10,000 per quarter for salaries; $2,000 per quarter for rent; $2,000 per quarter for insurance; and $50 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 3% of sales. ded March 31, 2019 Print Done istrative expense The Sosa Bating Company manufactures wood baseball bats Sosa's two primary products are a youth bat, designed for chiden and yourg leens, and an adut bat, designed for high school and college aged players Sosa sels he bats to sporting goods stores and all sales are on account The youh bat sels for $45 the adu bat sels for S85 Sosa's highest sales volume is in the frst three months of the year as etalers prepare for the speng baebal season Sosa's balance sheet for December 31, 2018, and other data for the frst quater of 2019 olow (Cck the icon to view the balance sheel) Clck the icon to view the ofther data) Read the reauirements Requirement 1. Prepare Sosa's sales budget for the first quarter of 2019 Sosa Batting Company Sales Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Budgeted bats to be sold Sales price per unit Total sales Requirement 2. Prepare Sosa's production budget for the Srst quarter of 2019 Sosa Batting Company Production Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Plus Total bats needed Choose from any lat or onter any number in the input Selds and then continue to the naxt question The Sosa Batting Company manufactures wood baseball bats Sosa's two primary products are a youth bat, designed for chidren and young leans, and an adult bat, designed for high school and collegeaged players Sosa sels the bals to sporting goods stores and all sales are on acoount. The youth bat sels for $45, the adut bat sels for $85 Sosa's highest sales volume is in the firt three months of the year as retalers prepare for the spring baseball season. Sosa's balance sheel for December 31, 2018, and other data for the first quarter of 2019 folow m(Ock the icon to view he belance sheet ) (Cick the lcon to view the other dala Read the requirements Plus Total bas needed Less Budgeted bats to be produced Requirement 3. Prepare Sosa's direct materials budget direct labor budget, and manutacturing overhead budget for the first quarter of 2019 Round the predetermined overhead alocation rate to two decimal places. The overhead alocations bese is diret labor hours Begin by preparing the direct materials budget Sosa Batting Company Direct Materials Budget For the Quarter Ended Mareh 31, 20190 Youth Adut Bats Bats Total Direct materials per bat (ounces) Direct materials needed for production Pus Total direct maerials needed Lens hoose from any lst or enter any number in the input fields and then continue to the next question The Sosa Bating Company manufactures wood baseball bats. Sosa's two primary products are a youth bat designed for children and young teens, and an adut bal, designed for high school and colege-aged players Sosa sells the bats to sporting goods stores and all sales are on account. The youtth bat sels for $45, the adut bat sells for $85. Sosa's highest saes volume is in the frst three months of the year as retalers prepare for the spring baseball season Sosa's balancer sheet for December 31, 2018, and other data for the frst quaner of 2019 folow m(Cick the loon to view the baance sheet) Click the ioon to view the other data.) Read the requirements Total direct materials needed Less Budgeted purchases of direct maerialsa Direct maerials cost per ounce Budgeted cost of drect materials Prepare the direct labor budget Enter any hours per unit amounts to two decimal places, XXX) Review the production budget you prepared above Sosa Bating Cempany Direct Labor Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Direct iabor hours needed for production Budgeted direct labor cost Prepare the manufacturing overhead budget (Enter any per unit amounts two decimal places, XXX. Abbreviations used VOH variable manufacturing overhead, FOH feed manufacturing overhead) Revime the nev hr un nat ahue Choose from any list or enter any number in the input fields and then continue to the next question. The Sosa Bating Compary mandacures wood basetal bats Soua's two primary products are a youh bat desg for chdn and young eens, and an adut bet, designed for high scheol and colege aged players Sosa ses the bats tor spoting goods stores and a saes are on account The youh bal sels for $45 the adl bat sels for s05 So's hest saes volume i in he fr te monts of the year as wtalers prepae for the spring basebal season Sosa's balance sheet for December 31, 2018 ad other daa for the frt uater of 2019 oow m(Clck the loon to view the balance sheet) 0(Oic the on to view the oher data) Read the reauirements Prepare the manufacturing overhead buge Ener any per unt amounts to teo decimal pces XXX Atreviaions used VOHaiable manudacturing overteat, FOH aed mandacturing overnead) Review the production butget you prepared above Review he direct labor budget you prepared above Soss Tire Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total VOH cost per bat Budgeted VOH Budgeled FO Depreciation insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manuacturing overhead costs Predetemined overhead alocation rate Choose from any list or enter any number in the input fields and then continue to the next question The Soss Bating Compary manufactures wood baseball bats sporting goods stores and all sales are on account The youth bat sells for $5e ane ayouth bat, designed for chidren and young leens, and an adull bat, designed for high school and colegeeged glayers Scsa sels the tats to sheet for December 31, 2018, and other daa for the fist quater of 2019 folow Sosa's two primary products s85 Sosa's highest sales volume is in the first three months of the year as talers prepare for the spring basebal season Sosa's balance m(Ok he oon to view the baance sheet) (Click the lcon to view the other dela) Read the eauiements Requirement 4 Prepare Sosa's cost of goods sold bulget for the frst quarter of 2019 Before preparing the cost of goods sold buget, calculate the projected manufacturing cost per bat for 2019 (Hound all amounts to the nearet cent) Youth Bats Adut Bats Total projected manufacturing cost per bet for 2019 Now prepare the cost of goods sold budget Review the sales budget you prepared above. Review the production budget you prepared above Sosa Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2019 Youth Adut Bats Bats Total Bals produced and sold in 1st quarter of 2019 Total budgeted cost of goods soid Requirement 5. Prepare Sosas seling and administrative expense budget for the first quarter of 2019. Choose from any list or ender any number in the input fields and then continue to he next question The Sose Batting Company manutactures wood basebal bats Sosa's two primary products are a youh bat, dosigned for chidren and yourg teens, and an adult bat, designed for high school and colege-aged players Sosa sels the bats to sporsing goods stores and all sales are on account The youth bat sells for $45 the adut bat sels for $85 Sosa's highest sales volume is in the frst three months of the year as realers prepare for the spring baneball season Sosa's balance sheet for December 31, 2018, and other data for the first quaer of 2019 follow (Olck the ioon to view the balance sheet) (Cik the icon to view the other data) Read the requirements Sosa Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Bats produced and sold in 1st quarter of 2015 Total budgeted cost of goods sold Requirement 5. Prepare Sosa's seling and administrative expense budget for the frst quarer of 2019 Review the sales budget you prepared above Sosa Balting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2019 Total budgeted seling and administrative expenser Choose from any ist or enter any number in the input fields and then continue to the next question. 3 of 6 (0 complete) gned for high school ar as retailers prepa Osa's two sells for of 2019 fo Data Table ck the ico Balance Sheet December 31, 2018 Assets Current Assets: Cash 32,000 019 Accounts Receivable 20,300 Ad Raw Materials Inventory Ba 4,500 14,100 Finished Goods Inventory Total Current Assets 70,900 Property, Plant, and Equipment: Equipment 135,000 se budget (35,000) 100,000 Less: Accumulated Depreciation 170,900 Total Assets Liabilities Current Liabilities: Accounts Payable S 12,500 Stockholders' Equity Common Stock, no par 70,000 Retained Eamings 88,400 Total Stockholders' Equity 158,400 Total Liabilities and Stockholders' Equity 170,900 nd then d Print Done factures wood baseball bats. Sosa's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high schc s are on account. The youth bat sells for $45; the adult bat sells for $85. Sosa's highest sales volume is in the first three months of the year as retailers pre other data for the first quarter of 2019 follow ance sheet.) i (Click the icon to view the other data.) More Info Sosa Batting Company Cost of Goods Sold Budget Budgeted sales are 1,700 youth bats and 3,200 adult bats. b. Finished Goods Inventory on December 31, 2018, consists of 550 youth bats at $15 each and 450 adult bats at $13 each. a. ne Quarter Ended March 31, 2019 Youth Adu c. Desired ending Finished Goods Inventory is 500 youth bats and 500 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 40 ounces of wood per youth bat and 54 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2018, consists of 30,000 ounces of wood at $0.15 per ounce. Bats Bat arter of 2019 Desired ending Raw Materials Inventory is 30,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). Each bat requires 0.4 hours of direct labor, direct labor costs average $20 per f. selling and administrative expense budget g. hour ared above. g Company h. Variable manufacturing overhead is $0.70 per bat i. Fixed manufacturing overhead includes $900 per quarter in depreciation and ative Expense Budget $13,310 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $10,000 per quarter for salaries; $2,000 per quarter for rent; $2,000 per quarter for insurance; and $50 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 3% of sales. ded March 31, 2019 Print Done istrative expense
