The Sosa Batting Co. manufactures wood baseball bats. Sosa's two primary products are a youth bat, designed for young teens, and an adult bat, designed for high school and college-aged players. Sosa sells bats to sporting goods stores and all sales are on account. The youth bat sells for $50; the adult bat sells for $85. Sosa's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball seasons. Sosa's balance sheet for December 31, 2018 and other data for the first quarter of 2019 follow:

More Info - X a. Budgeted sales are 1,900 youth bats and 3,600 adult bats. b. Finished Goods Inventory on December 31, 2018, consists of 600 youth bats at $13 each and 550 adult bats at $17 each. c. Desired ending Finished Goods Inventory is 100 youth bats and 400 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 $0.35 per ounce. e. Raw Materials Inventory on December 31, 2018, consists of 20,000 ounces of wood at $0.35 per ounce. f. Desired ending Raw Materials Inventory is 20,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.5 hours of direct labor, direct labor costs average $24 per hour. h. Variable manufacturing overhead is $0.40 per bat. i. Fixed manufacturing overhead includes $1,000 per quarter in depreciation and $14,035 per quarter for other costs, such as insurance and property taxes j. Fixed selling and administrative expenses include $14,000 per quarter for salaries; $3,000 per quarter for rent; $1,700 per quarter for insurance, and $250 per quarter for depreciation k. Variable selling and administrative expenses include supplies at 3% of sales. Print Done Data Table - X Sosa Batting Company Balance Sheet December 31, 2018 Assets Current Assets Cash $ Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 20,000 15,500 7,000 17,150 $ 59,650 140,000 (65,000) 75,000 134,650 $ 8,000 Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 100,000 26,650 126,650 $ 134,650 Print Done Adult 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 Bats Bats Total Budgeted bats to be sold Sales price per unit Total sales Requirement 2. Prepare Sosa's production budget for the first quarter of 2019. Sosa Batting Company Production Budget For the Quarter Ended March 31, 2019 Adult Bats Bats Youth Total Plus: Total bats needed Less Budgeted bats to be produced Requirement 3. Prepare Sosa's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2019. 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. Sosa Batting Company Direct Materials Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Direct materials per bat (ounces) Direct materials needed for production Plus: Total direct materials needed Less: 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, X.XX.) Review the production budget you prepared above. Sosa Batting Company Direct Labor Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total 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. Sosa Tire Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2019 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 Sosa's cost of goods sold budget for the first quarter of 2019. Before preparing the cost of goods sold budget, calculate the projected manufacturing cost per bat for 2019. (Round all amounts to the nearest cent.) Youth Bats Adult Bats Total projected manufacturing cost per bat 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 Bats Adult Bats Total Bats produced and sold in 1st quarter of 2019 Total budgeted cost of goods sold Requirement 5. Prepare Sosa's selling and administrative expense budget for the first quarter of 2019. Review the sales budget you prepared above. Sosa Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2019 Total budgeted selling and administrative expense