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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-aged players. Cooke sells the bats to sporting goods stores and all sales are on account. The youth bat sells for $25; the aduit bat sells for $60. Cooke's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Cooke's balance sheet for December 31, 2024, and other data for the first quarter of 2025 follow: (Click the icon to view the balance sheet) (Click the icon to view the other data.) Read the requirements. Requirement 1. Prepare Cooke's sales budget for the first quarter of 2025. Requirement 2. Prepare Cooke's production budget for the first quarter of 2025. Data table is are a youth ayers. Cooke at sells for $6 baseball sea rdata.) More info a. Budgeted sales are 1,100 youth bats and 3,400 adult bats. b. Finished Goods Inventory on December 31, 2024, consists of 550 youth bats at $17 each and 720 adult bats at $17 each. c. Desired ending Finished Goods Inventory is 400 youth bats and 500 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 50 ounces of wood per youth bat and 60 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 21,000 ounces of wood at $0.15 per ounce. f. Desired ending Raw Materials Inventory is 21,000 ounces (indirect materials are insignificant and not considered for budgeting purposes). g. Each bat requires 0.4 hours of direct labor; direct labor costs average $10 per hour. h. Variable manufacturing overhead is $0.60 per bat. i. Fixed manufacturing overhead includes $900 per quarter in depreciation and $1,578 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $5,000 per quarter for salaries: $5.000 per quarter for rent; $1,300 per quarter for insurance; and $500 per quarter for depreciation. k. Variable selling and administrative expenses include supplies at 5% of sales. Requirement 2. Prepare Cooke's production budget for the first quarter of 2025. Requirement 3. Prepare Cooke'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. The Cooke Batting Company manufactures wood baseball bats. Cooke's two primary products are a youth bat, designe Requirement 3. Prepare Cooke'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. The Cooke Batting Company manufactures wood baseball bats. Cooke's two primary products are a youth bat, designe The Cooke Batting Company manufactures wood baseball bats. Cooke's two primary products are a youth bat, designed Prepare the direct labor budget. (Enter any hours per unit amounts to two decimal places, X.X.) Review the production budget you prepared above. Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, X,XX. Abbreviations used: VOH = variable manufacturing overhead; FOH= fixed manutacturing overhead.) Review the production budget you prepared above. Review the direct labor budget you prepared above. Prepare the manufacturing overhead budget. (Enter any per unit amounts to two decimal places, X.XX Abbreviations used: VOH= variable manutacturing overhead: FOH= fixed manufacturing overhead.) Review the production budget you prepared above. Review the direct labor budget you prepared above. The Cooke Batting Company manufactures wood baseball bats. Cooke's two primary products are a youth bat, designed Requirement 4. Prepare Cooke'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.) The Cooke Batting Company manufactures wood baseball bats. Cooke's two primary products are a youth bat, designed Requirement 4. Prepare Cooke'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.) Now prepare the cost of goods sold budget. Review the sales budget you prepared above. Review the production budget you prepared above. Requirement 5. Prepare Cooke's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above. The Cooke Batting Company manufactures wood baseball bats. Cooke's two primary products are a youth bat, designed Requirement 5. Prepare Cooke's selling and administrative expense budget for the first quarter of 2025. Review the sales budget you prepared above

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