The Vang Batting Company manufactures wood baseball bats. Vangis two primary peoducts are a youth bat, designed for chizdren and young teens, and an aduhl bat, designed for high school and collego-aged players. Vang solls the bats to sporting goods stores and all sales are on account The youth bat sells for $25, the adult bat solls for $75. Vang's highest sales volume is in the first three months of the year as rotailers prepare for the spring baseball season. Vang's balance shoet for Docember 31,2024 , and other data for the first quarter at 2025 follow. (Clck the icon lo view the balance sheet.) (Click the icon to view the other data.) Read the feguirements Requirement 1. Prepare Vang's sales budget lor the first quarter of 2025 . Data table Data table More info a. Budgeted sales are 1,600 youth bats and 3,100 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 700 youth bats at $20 each and 720 adult bats at $20 each. c. Desired ending Finished Goods Inventory is 300 youth bats and 520 adult bats: FIFO inventory costing method is used. d. Direct materials requirements are 40 ounces of wood per youth bat and 64 ounces of wood per adult bat. The cost of wood is $0.40 per ounce. e. Raw Materials Inventory on December 31,2024, consists of 29,000 ounces of wood at $0.40 per ounce. f. Desired ending Raw Materials Inventory is 29,000 ounces (indirect materials are insignificant and not considered for budgeting purposes) 9. Each bat requires 0.2 hours of direct labor: direct labor costs average $26 per hour. h. Variable manufacturing overhead is $0.40 per bat. i. Fixed manufacturing overhead includes $400 per quarter in depreciation and $1,240 per quarter for other costs, such as insurance and property taxes j. Fixed selling and administrative expenses include $6,000 per quarter for salaries: $1,000 per quarter for rent; $1,400 per quarter for insurance; and $450 per More info $20 each and 720 adult bats at $20 each. c. Desired ending Finished Goods Inventory is 300 youth bats and 520 adult bats: FIFO inventory costing method is used. d. Direct materials requirements are 40 ounces of wood per youth bat and 64 ounces of wood per adult bat. The cost of wood is $0.40 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 29,000 ounces of wood at $0.40 per ounce. f. Desired ending Raw Materials Inventory is 29,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). 9. Each bat requires 0.2 hours of direct labor; direct labor costs average $26 per hour. h. Variable manufacturing overhead is $0.40 per bat. i. Fixed manufacturing overhead includes $400 per quarter in depreciation and $1,240 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $6,000 per quarter for salaries: $1,000 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 2% of sales. Requirements 1. Prepare Vang's sales budget for the first quarter of 2025. 2. Prepare Vang's production budget for the first quarter of 2025. 3. Prepare Vang'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 Vang's cost of goods sold budget for the first quarter of 2025. 5. Prepare Vang's selling and administrative expense budget for the first quarter of 2025