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

$50;

the adult bat sells for

$75.

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,

2018,

and other data for the first quarter of

2019

follow:

x More Info a. Budgeted sales are 1,100 youth bats and 3,000 adult bats. Finished Goods Inventory on December 31, 2018, consists of 350 youth bats at $18 b. each and 750 adult bats at $15 each. Desired ending Finished Goods Inventory is 550 youth bats and 450 adult bats; C. FIFO inventory costing method is used. Direct materials requirements are 52 ounces of wood per youth bat and 64 ounces of d. wood per adult bat. The cost of wood is $0.40 per ounce. Raw Materials Inventory on December 31, 2018, consists of 29,000 ounces of wood e. at $0.40 per ounce. Desired ending Raw Materials Inventory is 29,000 ounces (indirect materials are f. insignificant and not considered for budgeting purposes). g. Each bat requires 0.3 hours of direct labor, direct labor costs average $24 per hour. h. Variable manufacturing overhead is $0.60 per bat. Fixed manufacturing overhead includes $800 per quarter in depreciation and $4,000 i. per quarter for other costs, such as insurance and property taxes. Fixed selling and administrative expenses include $7,000 per quarter for salaries; $4,500 per quarter for rent; $1,400 per quarter for insurance; and $100 per quarter j. for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales. Print Done 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 $50; the adult bat sells for $75. 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, 2018, and other data for the first quarter of 2019 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 2019. Vinson Batting Company Sales Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Bats Total Budgeted bats to be sold 1100 Sales price per unit Total sales Enter any number in the edit fields and then click Check Answer. ? - X i Data Table Vinson Batting Company Balance Sheet December 31, 2018 Assets Current Assets Cash 14,000 21,600 11,600 17,550 Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property, Plant, and Equipment: Equipment Less: Accumulated Depreciation $ 64,750 165,000 (65,000) 100,000 $ Total Assets 164,750 Liabilities A 16,500 Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity Total Liabilities and Stockholders' Equity 100,000 48,250 148,250 164,750 Print Done