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The Cooke Batting Company manufactures wood baseball bats. Cooke's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-age Sporting goods stores and all sales are on account. The youth batws for $60. the adult bat sells for $85. Cooke's highest sales volume is in the first three months of the year as retailers prepare for the springb 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 Youth Adult Bats Total Beginning inventory $ $ 0 Sales Budget Bats 6,160 80,028 86,188 9,350 23,120 32,470 Bats produced and sold in 1st quarter of 2019 Total budgeted cost of goods sold 15510 103,148 118.658 $ $ Requirement 5. Prepare Cooke's selling and administrative expense budget for the first quarter of 2019 Review the sales budget you prepared above. Cooke Batting Company Sales Budget For the Quarter Ended March 31, 2019 Youth Adult Bats Cooke Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2019 Bats Budgeted bats to be sold 1,400 60 2.900 85 Sales price per unit S 84.000 $ 248.500 5 330.500 Total sales Print Done Total budgeted selling and administrative expense The Cooke Batting Company manufactures wood baseball bats. Cooke'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. Cooke sets the bat sporting goods stores and all sales are on account. The youth bat sells for $80: the adult bat sells for $85. Cooke's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season Cooke's balas sheet for December 31, 2018 and other data for the first quarter of 2019 follow Click the loon to view the balance sheet) 0 Read the requirements More info Data Table Beginning inventory Bats produced and sold in 1st quarter of 2019 Current Assets Cash Accounts Receivable Raw Materials inventory Finished Goods Inventory Total Current Assets Property. Plant, and Equipment: Equipment 32.000 20.300 9.100 15.510 a. Budgeted sales are 1400 youths and 2 900 adult bats b. Finished Goods Inventory on December 31, 2018, consists of 550 youth bats $17 each and 560 adult bats at $11 each c. Desired ending Finished Goods Inventory is 200 youth bats and 550 adult bats FIFO inventory costing method is used d. Direct materials requirements are 42 ounces of wood per youth bat and 62 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 25.000 ounces of Total budgeted cost of goods sold 78,910 Requirements. Prepare Cooke's selling and administra Be the sales budget You D bove Cooke Batting Company Selling and Administrative Expense Budge For the Quarter Ended March 31, 2019 140.000 (40,000) Desired ending Raw Materials Inventory is 26 000 ounces (indirect materials are insignificant and not considered for budgeting purposes 2. Each bat requires 0 5 hours of direct labor direct labor costs average S20 per Less: Accumulated Depreciation 100.000 Total Assets Liabilities Current Liabilities Accounts Payable h. Variable manufacturing overhead is $0 60 per bat. Faxed manufacturing overhead includes $700 per quarter in depreciation and $6,786 per quarter for other costs, such as insurance and property taxes Faxed selling and administrative expenses include $10.000 per quarter for salaries: $4,500 per quarter for rent $1.900 per quarter for Insurance; and $450 per quarter for depreciation Variable selling and administrative expenses include supplies at 5% of sales. $ 10,500 Stockholders' Equity $ Common Stock, no per 70.000 Total budgeted selling and administrative expense Print Dono Retained Earrings Total Stockholders' Equity Total Liabilities and Stockholders' Equity Choose from any list or enter any number in the input 168.410
