The Vinson Batting Company manufactures wood baseball bats. Vinson'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. Vinson sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $30; the adult bat sells for $70. Vinson's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Vinson'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. Requirement 1. Prepare Vinson's sales budget for the first quarter of 2025. Vinson Batting Company Sales Budget For the Quarter Ended March 31, 2025 Data table Youth Bats Adult Current Assets: Bats Total Cash Budgeted bats to be sold Accounts Receivable Sales price per unit Total sales Requirements Vinson Batting Company Balance Sheet December 31, 2024 Assets 20,000 20,300 Raw Materials Inventory 3,300 Finished Goods Inventory Total Current Assets 26,600 $ 70,200 Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation 1. Prepare Vinson's sales budget for the first quarter of 2025. 2. Prepare Vinson's production budget for the first quarter of 2025. 3. Prepare Vinson'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 Vinson's cost of goods sold budget for the first quarter of 2025. 5. Prepare Vinson's selling and administrative expense budget for the first quarter of 2025. Total Assets Current Liabilities: Accounts Payable Common Stock, no par Print Done Retained Earnings Liabilities 160,000 (20,000) $ 140,000 210,200 12,800 Stockholders' Equity 130,000 67,400 197,400 210,200 Total Stockholders' Equity Total Liabilities and Stockholders' Equity More info a. Budgeted sales are 1,000 youth bats and 3,000 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 650 youth bats at $19 each and 750 adult bats at $19 each. c. Desired ending Finished Goods Inventory is 150 youth bats and 500 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 50 ounces of wood per youth bat and 64 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 22,000 ounces of wood at $0.15 per ounce. f. Desired ending Raw Materials Inventory is 22,000 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 $26 per hour. h. Variable manufacturing overhead is $0.50 per bat. i. Fixed manufacturing overhead includes $800 per quarter in depreciation and $4,075 per quarter for other costs, such as insurance and property taxes. j. 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 $550 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 4% of sales. Print Done