x 0 More Info a. Budgeted sales ale 1,400 youth bats and 3,400 adult bats. b. Finished Goods Inventory on December 31, 2024. consists of 700 youth bats at $20 each and 450 adult bats at $19 each c. Desired ending Finished Goods Inventory is 400 youth bats and 450 adult bats: FIFO inventory costing method is used, d. Direct materials requirements are 44 ounces of wood per youth bat and 62 ounces of wood per adult bat. The cost of wood is $0.20 per ounce e. Raw Materials Inventory on December 31, 2024 consists of 28,000 ounces of wood at $0 20 per ounce f. Desired ending Raw Materials Inventory is 23,000 ounces (indirect materials are insignificant and not considered for budgeting purposes) g. Each bat requires 0.2 hours of direct labor direct labor costs average $10 per hour h. Variable manufacturing overhead is $0.70 per bat i. Fixed manufacturing overhead includes $600 per quarter in depreciation and $750 per quarter for other costs, such as insurance and property taxes 1. Fixed selling and administrative expenses include $12.000 per quarter for salaries, $1,000 per quarter for rent, $1,500 per quarter for insurance, and $400 per quarter for depreciation k. Variable selling and administrative expenses include supplies at 2% of sales Print Done Sosa Batting Company Balance Sheet December 31, 2024 Assets Current Assets Cash $ 22,000 22,500 4,600 22,550 Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets Property. Plant, and Equipment Equipment Less: Accumulated Depreciation 71,650 160,000 (20,000) 140.000 $ 211,650 Total Assets Liabilities Current Liabilities: Accounts Payable $ 12,800 Stockholders' Equity $ Common Stock, no pari 80,000 118,850 Retained Earnings Total Stockholders' Equity 198,850 211,650 Total Liabilities and Stockholders' Equity Print Done 0 Requirements 30 1. Prepare Sosa's sales budget for the first quarter of 2025. 2. Prepare Sosa's production budget for the first quarter of 2025 3. Prepare Sosa'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 Sosa's cost of goods sold budget for the first quarter of 2025 5. Prepare Sosa's selling and administrative expense budget for the first quarter of 2025. Print Done The Sosa Batting Company manufactures wood baseball bats. Sosa's two primary products are a youth bat, desic adult bat sells for $75. Sosa's highest sales volume is in the first three months of the year as retailers prepare fort (Click the icon to view the balance sheet.) (Click the icon to view the other data.) Read the requirements in the five nortor nf 2005 sa'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 players Sosa sells the bats to sporting g three months of the year as readers prepare for the spring baseball season Sosa's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow k the icon to view the other data) 3, and an adult bat, designed for high school and college-age players Sousses the bats to sporting Goods stores and all sales are on account. The youth bat sells for $25, the a' balance sheet for December 31, 2024, and other data for the first quarter of 2035 follow bunt. The youth bat sells for $25, the The Sosa Batting Company manufacture: adult bat sells for $75. Sosa's highest sa (Click the icon to view the balance sh Read the requirements
