X Data table Class Printing Supply Balance Sheet March 31, 2024 Assets Current Assets: Cash $ 51,200 Accounts Receivable 14,400 Merchandise Inventory 12,200 Total Current Assets $ 77,800 Property, Plant, and Equipment: Equipment and Fixtures 80,600 Less: Accumulated Depreciation (13, 100) 67,500 Total Assets $ 145,300 Liabilities Current Liabilities: Accounts Payable $ 8,100 Stockholders' Equity Common Stock, no par $ 20,000 Retained Earnings 117,200 Total Stockholders' Equity 137,200 $ 145,300 Total Liabilities and Stockholders' EquityMore info a. Budgeted sales are 1,100 youth bats and 3,500 adult bats. b. Finished Goods Inventory on December 31, 2024. consists of 500 youth bats at $19 each and 720 adult bats at $1? each. o. Desired ending Finished Goods Inventory is 550 youth bats and 550 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 52 ounces of wood per youth bat and 60 ounces of wood per adult bat. The cost of wood is $0.30 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 29.000 ounces of wood at $0.30 per ounce. f. Desired ending Raw Materials Inventory is 29,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). 9. Each bat requires 0.1 hours of direct labor; direct labor costs average $10 per hour. h. Variable manufacturing overhead is $0.?0 per bat. i. Fixed manufacturing overhead includes $700 per quarter in depreciation and $644 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $14,000 per quarter for salaries; $4,000 per quarter for rent; $1,200 per quarter for insurance; and $100 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 1% of sales. The Huber Batting Company manufactures wood baseball bats. Huber'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. Huber sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $30; the adult bat sells for $85. Huber's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Huber's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: Requirement 1. Prepare Huber's sales budget for the first quarter of 2025. Huber Batting Company Sales Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Budgeted bats to be sold Sales price per unit Total sales Requirement 2. Prepare Huber's production budget for the first quarter of 2025. Huber Batting Company Production Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Plus: Total bats needed Less: Budgeted bats to be produced Requirement 3. Prepare Huber'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. Begin by preparing the direct materials budget. Huber Batting Company Direct Materials Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Direct materials per bat (ounces) Direct materials needed for production Plus: Total direct materials needed Less: Budgeted purchases of direct materials Direct materials cost per ounce Budgeted cost of direct materialsPrepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, X.XX.) Review the production budget you prepared above. Huber Batting Company Direct Labor Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Direct labor hours needed for production Budgeted direct labor cost Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, X.XX. Abbreviations used: VOH = variable manufacturing overhead; FOH = fixed manufacturing overhead.) Review the production budget you prepared above Review the direct labor budget you prepared above. Huber Batting Company Manufacturing Overhead Budget For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total VOH cost per bat Budgeted VOH Budgeted FOH Depreciation Insurance and property taxes Total budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead allocation rate Requirement 4. Prepare Huber'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 cent.) Youth Bats Adult Bats Total projected manufacturing cost per bat for 2025Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. Bats produmd and sold In 1st quarter of 2025 Total budgeted cost of goods sold Requirement 5. Prepare Huber's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. Total budgeted selling and adminisb'atlve expense