For the Quarter Ended M ces) production
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Question 5, part 3. Please answer in same format as question so it's easy to transfer over
![The Langley Batting Company manufactures wood baseball bats. Langley'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. Langley sells the bats
to sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Langley's
balance sheet for December 31, 2018, and other data for the first quarter of 2019 follow:
E (Click the icon to view the balance sheet.)
1 (Click the icon to view the other data.)
1 Data Table
Read the requirements.
For the Quarter Ended March 31, 2019
Finished Goods Inventory
21,300
Youth
Adult
Total Current Assets
74,000
Bats
Bats
Total
Property, Plant, and Equipment:
Equipment
130,000
Direct materials per bat (ounces)
(50,000)
80,000
Less: Accumulated Depreciation
Direct materials needed for production
$
154,000
Total Assets
Plus:
Liabilities
Total direct materials needed
Current Liabilities:
Less:
Accounts Payable
$
15,200
Budgeted purchases of direct materials
Stockholders' Equity
Direct materials cost per ounce
Common Stock, no par
90,000
Budgeted cost of direct materials
48,800
Retained Earnings
Choose from any list or enter any number in the input fields and then click Check Answer.
Total Stockholders' Equity
138,800
$ 154,000
Total Liabilitios and Stockholdors! Eguity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F588b1606-a7cb-492f-b2c1-78dc429479a1%2F6e082301-61d3-4214-8e26-1b53434fd55f%2Fn0sonc_processed.png&w=3840&q=75)
Transcribed Image Text:The Langley Batting Company manufactures wood baseball bats. Langley'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. Langley sells the bats
to sporting goods stores and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Langley's
balance sheet for December 31, 2018, and other data for the first quarter of 2019 follow:
E (Click the icon to view the balance sheet.)
1 (Click the icon to view the other data.)
1 Data Table
Read the requirements.
For the Quarter Ended March 31, 2019
Finished Goods Inventory
21,300
Youth
Adult
Total Current Assets
74,000
Bats
Bats
Total
Property, Plant, and Equipment:
Equipment
130,000
Direct materials per bat (ounces)
(50,000)
80,000
Less: Accumulated Depreciation
Direct materials needed for production
$
154,000
Total Assets
Plus:
Liabilities
Total direct materials needed
Current Liabilities:
Less:
Accounts Payable
$
15,200
Budgeted purchases of direct materials
Stockholders' Equity
Direct materials cost per ounce
Common Stock, no par
90,000
Budgeted cost of direct materials
48,800
Retained Earnings
Choose from any list or enter any number in the input fields and then click Check Answer.
Total Stockholders' Equity
138,800
$ 154,000
Total Liabilitios and Stockholdors! Eguity
![Langley Batting Company
Sales Budget
For the quarter ended March 31 209
Youth Adult Total
Budgeted bats to be sold
Sales price per unit
1200 2600 3800
40
65
Total Sales
48000 169000 217000
Langley Batting Company
Production Budget
For the quarter ended March 31 209
Youth Adult Total
Sales
1200 2600 3800
Plus: Closing finished goods
350
300
650
Total Bats needed
1550 2900 4450
Less: Opening Finished goods
300 950
1250
Budgeted bats to be produced
1250 1950 3200](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F588b1606-a7cb-492f-b2c1-78dc429479a1%2F6e082301-61d3-4214-8e26-1b53434fd55f%2F0jm4wnp_processed.png&w=3840&q=75)
Transcribed Image Text:Langley Batting Company
Sales Budget
For the quarter ended March 31 209
Youth Adult Total
Budgeted bats to be sold
Sales price per unit
1200 2600 3800
40
65
Total Sales
48000 169000 217000
Langley Batting Company
Production Budget
For the quarter ended March 31 209
Youth Adult Total
Sales
1200 2600 3800
Plus: Closing finished goods
350
300
650
Total Bats needed
1550 2900 4450
Less: Opening Finished goods
300 950
1250
Budgeted bats to be produced
1250 1950 3200
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