0 Required information The following information applies to the questions displayed below) Morganton Company makes one product and it provided the following information to help prepare the master budget: of 11 4293 a. The budgeted selling price per unit is $65. Budgeted unit sales for June July August, and September are 9,900, 30,000, 32,000, and 33,000 units, respectively. All sales are on credit b Forty percent of credit sales are collected in the month of the sole and 60% in the following month. c. The ending finished goods Inventory equals 30% of the following month's unit sales. d. The ending raw materials inventory equals 20% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Forty percent of raw materials purchases are paid for in the month of purchase and 60% in the following month 1. The direct tobor wage rate is $12 per hour. Each unit of finished goods requires two direct labor hours. 9 The variable selling and administrative expense per unit sold is $1,90. The fixed selling and administrative expense per month is $69,000 Ded 12. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $11 per direct labor-hour, what is the estimated finished goods Inventory balance at the end of July? Ende finished goods inventory