accounting

Project Description:

the mata batting company manufactures wood baseball bats. mata’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. mata sells the bats to sporting goods stores and all sales are on account. the youth bat sells for $35; the adult bat sells for $65. mata’s highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. mata’s balance sheet for december 31, 2014, follows:


mata batting company
balance sheet
december 31, 2014

assets

current assets:

cash $ 30,000
accounts receivable 22,500
raw materials inventory 11,000
finished goods inventory 20,250
total current assets $83,750

property, plant, and equipment
equipment 125,000
less accumulated depreciation ` (50,000)
$75,000
total assets $158,750
liabilities

current liabilities

accounts payable $ 12,500
stockholders’ equity
common stock $100,000
retained earnings 46,250
total stockholders equity $146,25

total liabilities and stockholder’s equity $158,750

other data for mata batting company:

budgeted sales are 1,500 youth bas and 3,000 adult bats.
finished goods inventory on december 31 consists of 500 youth bats at $15 each and 750 adult bats at $17 each.
desired ending finished goods inventory is 300 youth bats and 450 adult bats; fifo inventory costing method is used.
direct materials cost is $8 per youth bat and $10 per adult bat.
desired ending raw materials inventory is $11,000 (indirect materials are insignificant and not considered for budgeting purposes).
each bat requires 0.25 hours of direct labor: direct labor costs average $20 per hour.
variable manufacturing overhead is $0.75 per bat.
fixed manufacturing overhead includes $1,000 per quarter in depreciation and $2,000 per quarter for other costs, such as insurance and property taxes.
fixed selling and administrative expenses include $10,000 per quarter for salaries: $3,000 per quarter for rent: $1,500 per quarter for insurance: and $300 per quarter for depreciation.
variable selling and administrative expenses include supplies at 1% of sales.

requirments
1. prepare mata sales budget for the first quater 2015
2 prepare mata production budget for the first quater 2015
3 prepare mats direct budget materials budget, direct labor budget , and manufacturing budget of 2015.
4 prepare mats cost of goods sold budget for the quater 2015
5. prepare mata selling expenses and administrative budget for the first quater of 2015
Skills Required:
Project Stats:

Price Type: Negotiable

Expired
Total Proposals: 11
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