chapter 5 1-3

hat Click the icon to view the other data X Data Table Mata Batting Company Balance Sheet December 31, 2024 Assets Current Assets: $ 40,000 22,500 Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets 4,050 15,130 $ 81,680 RI 99+ 24% Click the icon to view the other data ta Table - X 81,680 Total Current Assets Property, Plant, and Equipment: Equipment I Less: Accumulated Depreciation Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ 115,000 (30,000) $ 85,000 166,680 $ 16,500 150,000 180 Sul 0 99 24% FB FZ D F F % PES & 6 - ata Table Less: Accumulated Depreciation (30,000) 85,000 $ 166,680 Total Assets Liabilities Current Liabilities: Accounts Payable Stockholders' Equity Common Stock, no par $ Retained Earnings Total Stockholders' Equity $ 16,500 150,000 180 150, 180 Total Liabilities and Stockholders' Equity $ 166,680 O BE 994 24% uires wood baseball bats. Mata's two primary products are a youth bat, designed for children and young aged players, Mata sells the bats to sporting goods stores and all sales are on account. The youth bats ume is in the first three months of the year as retailers prepare for the spring baseball season. Mata's be er the first quarter of 2025 follow: Click the icon to view the other data More Info a. Budgeted sales are 1,500 youth bats and 3,600 adult bats. b. Finished Goods Inventory on December 31, 2024. consists of 450 youth bats at $17 each and 440 adult bats at $17 each c. Desired ending Finished Goods Inventory is 200 youth bats and 400 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 52 ounces of wood per youth bat and 64 ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 27,000 ounces of wood at 50.15 per ounce f. Desired ending Raw Materials Inventory is 27,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.3 hours of direct labor, direct labor costs average $12 per h. Variable manufacturing overhead is $0.80 per bat. hour O 81 99 24% For the first quarter of 2025 follow: Click the icon to view the other data bat More Info Yumurrugu I wou or your ounces of wood per adult bat. The cost of wood is $0.15 per ounce. e. Raw Materials Inventory on December 31, 2024, consists of 27,000 ounces of wood at $0.15 per ounce f. Desired ending Raw Materials Inventory is 27,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.3 hours of direct labor; direct labor costs average $12 per hour h. Variable manufacturing overhead is $0.80 per bat. i. Fixed manufacturing overhead includes $900 per quarter in depreciation and $2,467 per quarter for other costs, such as insurance and property taxes. . Fixed selling and administrative expenses include $10.000 per quarter for salaries: $1,500 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 5% of sales. O O gi 994 24% F3 FS E7 D A FB F9 % F10 es wood baseball bats. Mata's two primary products are a youth bat, designed for children and ged players. Mata sells the bats to sporting goods stores and all sales are on account. The you me is in the first three months of the year as retailers prepare for the spring baseball season. M the first quarter of 2025 follow: A/Click the icon to view the other data i Requirements 1. Prepare Mata's sales budget for the first quarter of 2025. 2. Prepare Mata's production budget for the first quarter of 2025. 3. Prepare Mata'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 Mata's cost of goods sold budget for the first quarter of 2025. 5. Prepare Mata's selling and administrative expense budget for the first quarter of 2025 Print Done 0 99+ 24% Requirement 1. Prepare Mata's sales budget for the first quarter of 2025. Mata 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 Mata's production budget for the first quarter of 2025. Mata Batting Company Production Budget For the Quarter Ended March 31, 2025 Vaat A. here to search 994 F + F FS FB FZ 8 D ata Batting Company manufactures wood baseball bats. Mata's two primary products died your Youth Adult Bats Bats Total al bats needed 55 udgeted bats to be produced Requirement 3. Prepare Mata's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2025. Round the redetermined overhead allocation rate to two decimal places. The overhead allocation base is direct labor hours, Begin by preparing the direct materials budget. Mata Batting Company Direct Materials Budget For the Quarter Ended March 31, 2025 Youth Adult The Mata Batting Company manufactures wood baseball bats. Mata's two primary products are a youth bat, designed for children an For the Quarter Ended March 31, 2025 Youth Adult Bats Bats Total Direct materials per bat ounces) Direct materials needed for production PLA Total direct materials needed Le Budged purchases of direct materials Direct materials per non Budgeted cont of direct materiais Prepare the deed labor brudget (Enheit urny hours per urit autiounts to two decimal places XXX) Type here to search o O BI 1 . 22 ER 1 2 3 $ 4 % 5 8 7 6 8 W E R T Lk A S D G H Z C V 00 N M En All 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 Prepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, X.XX.) Review the production budget you prepared above. Mata 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, XXX Abbreviations used VOH - variable manufacturing nunch FOH score score Prepare the manufacturing overhead budget (Enter any perunt amounts to wo decimal places, XXX Abbreviations used VOH variabile manufacturing overhead. FOHfed manufacturing overhead) Review the production budget you prepared above Review the direct labor budget you prepared above Mata Batting Company Manufacturing Overhead Budget For the later Ended March 1,2025 Youth Adult Bats Total kore core HO VOM Budgeted VOH Budo TOH Depreciation Insurance and brown 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 Insurance and property taxes Totini budgeted FOH Budgeted manufacturing overhead costs Direct labor hours Budgeted manufacturing overhead costs Predetermined overhead alocation rate Requirement 4. Prepare Mata'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 cont.) Youth Bats Adult Bats The Mata Batting Company manufactures wood baseball bals. Mata's two primary products are a youth bat, designed for child Total projected manufacturing cost per bat for 2025 Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. Mata Batting Company Cost of Goods Sold Budget For the Quarter Ended March 31, 2025 Youth Bats Adult Bats Total Bats produced and sold in 1st quarter of 2025 Total budgeted cost of goods sold The Mata Batting Company manufactures wood baseball bats. Mata's two primary products are a youth bat, designed for children and young t Bats produced and sold in 1st quarter of 2025 Total budgeted cost of goods sold Requirement 5. Prepare Mata's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. Mata Batting Company Selling and Administrative Expense Budget For the Quarter Ended March 31, 2025 Total budgeted selling and administrative expense