The Vang Batting Company manufactures wood baseball bats. Vang's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for S45; the adult bat sells for $60. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: (Click the icon to view the balance sheet.) i (Click the icon to view the other dala.) Read the requirements. -X Data table December 31, 2024 Assets Requirement 1. Prepare Vang's sales budget for the first quarter of 2025. Vang Batting Company Sales Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Current Assuts: Cash $ 40,000 Accounts Receivable 23,200 Budgeted bals to be sold Raw Materials Inventory 5,400 13.450 Finished Goods Inventory Sales price per unit Total sales Total Current Assets $ S 82,050 Requirement 2. Prepare Vang's production budget for the first quarter of 2025. Property. Plant, and Equipment: Equipment Less: Accumulated Depreciation 140.000 (40,000) 100.000 Vang Batting Company Production Budget For the Quarter Ended March 31, 2025 Youth Adult S 182,050 Total Assels Liabilities Bats Bats Total Current Liabilities: Accounts Payable $ 9,000 Stockholders' Equity Plus: $ Total bats needed Common Stock, no par Retained Earnings 160,000 13,050 Less: Total Stockholders' Equity 173,050 Budgeted bats to be produced s $ Total Liabilities and Stockholders' Equity 182,050 The Vang Batting Company manufactures wood baseball bats. Vang's two primary products are a youth bat designed for children and young teens, and an adult bat, designed for high school and college-aged players. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $45; the adult bat sells for $60. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow E (Click the icon to view the balance sheet.) (Click the icon to view the other data.) Read the requirements . Data table Requirement 3. Prepare Vang's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2025. R. allocation base is direct labor hours. December 31, 2024 , Begin by preparing the direct materials budget. Assets Vang Batting Company Current Assets: Direct Materials Budget Cash $ 40,000 For the Quarter Ended March 31, 2025 Accounts Receivable 23,200 Youth Adult Raw Materials Inventory 5,400 Bats Bats Total Finished Goods Inventory 13,450 Total Current Assets S 82,050 Direct materials per bat (ources) Property, Plant, and Equipment: Direct materials needed for production Equipment 140,000 Plus: Less: Accumulated Depreciation (40,000) 100,000 Total direct materials needed S Total Assets 182,050 Less: Liabilities Budgeted purchases of direct materials Direct materials cost per ounce Current Liabilities: Accounts Payable S 9,000 Budgeted cost of direct materials Stockholders' Equity Prepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, X.XX.) Common Stock, no par $ 160,000 Review the production budget you prepared above. Retained Earnings 13,050 Vang Batting Company Total Stockholders' Equity 173,050 Direct Labor Budget S $ 182,050 Total Liabilities and Stockholders' Equity For the Duarter Ended March 21 902 The Vang Batting Company manufactures wood baseball bats. Vang's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $45; the adult bat sells for $60. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang's 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 Data table vang Batting company Direct Labor Budget For the Quarter Ended March 31, 2025 December 31, 2024 , Youth Adult Assets Bats Bats Total Current Assets: Cash S 40,000 Accounts Receivable 23,200 Direct labor hours needed for production Raw Materials Inventory 5,400 13,450 S Budgeted direct labor cost 82,050 Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 140,000 (40,000) 100.000 S 182,050 Total Assets Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, X.XX. Abbreviations used: VOH = variable man Review the production budget you prepared above. Review the direct labor budget you prepared above. Vang Batting Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2025 , Youth Adult Bats Bats Total Liabilities Current Liabilities: Accounts Payable $ 9,000 Stockholders' Equity S S Common Stock, no par 160.000 13.050 Retained Eamings VOH cost per bat Budgeted VOH Budgeted FOH Total Stockholders' Equity 173,050 $ 182,050 Total Liabilities and Stockholders' Equity Pantan The Vang Batting Company manufactures wood baseball bats. Vang's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $45; the adult bat sells for S60. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang's 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 Data table Insurance and property taxes Total budgeted FOH December 31, 2024 Budgeted manufacturing overhead costs Assets Current Assets: Cash S Diruct labor hours Budgeted manufacturing overhead costs 40,000 23,200 Accounts Receivable Raw Materials Inventory Predetermined overhead allocation rate 5,400 13,450 Finished Goods Inventory Requirement 4. Prepare Vang'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 S 82,050 Youth Bals Adult Bats Total Current Assets Property. Plant, and Equipment: Equipment 140,000 (40,000) 100,000 Less: Accumulated Depreciation S 182,050 Total Assets Liabilities Current Liabilities: Total projected manufacturing cost per bat for 2025 Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above Accounts Payable $ 9,000 Stockholders' Equity $ Common Stock, no par 160,000 13.050 Vang Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2025 Youth Retained Earnings Total Stockholders' Equity 173.050 Adult Total Liabilities and Stockholders' Equity $ 182,050 ne- T. The Vang Batting Company manufactures wood baseball bats. Vang's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Vang sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $45; the adult bat sells for $60. Vang's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vang's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: (Click the icon to view the balance sheet.) i (Click the icon to view the other data.) Read the requirements. Data table Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above Vang Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2025 Youth December 31, 2024 Assets Current Assets Cash $ 40,000 23,200 Adult Accounts Receivable Bats Bats Total Raw Materials Inventory 5,400 13,450 $ 82,050 Finished Goods Inventory Total Current Assets Property, Plant, and Equipment Equipment Less: Accumulated Depreciation : 140,000 (40,000 Bats produced and sold in 1st quarter of 2025 Tolal budgeted cost of goods sold Requirement 5. Prepare Vang's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. , Vang Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 100,000 $ 182,050 Total Assets Liabilities Current Liabilities: Accounts Payable S 9,000 Stockholders' Equity $ Common Stock, no par 160,000 13.050 Retained Earnings Total Stockholders' Equity 173,050 Total budgeted selling and administrative expense S 182,050 Total Llabilities and Stockholders' Equity