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 a. The budgeted selling price per unit is $60. Budgeted unlt sales for June, July, August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively, All sales are on credit b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound. e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. t. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours, 9. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $67,000 6. 1996.250 pounds of raw materials are needed to meet production in August, what is the estimated cost of raw materials urchase for July? Cost of raw materials to be purchased 7. In July what are the total estimated cash disbursements for raw materials purchases? Assume the cost of raw material purchases in June is $136,560; and $96,250 pounds of raw materials are needed to meet production in August. Total cash disbursements Morganton Company makes one product and it provided the following information to help prepare the master budget a. The budgeted selling price per unit is $60. Budgeted unit sales for June July August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods Inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. f. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $67,000 8. 1896,250 pounds of raw materials are needed to meet production in August, what is the estimated accounts payable balance at the end of July? Accounta payable Morganton Company makes one prod provided prepare the master budget. a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,600, 17,000,19,000, and 20,000 units, respectively, All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound. e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. f. The direct labor wage rate is $14 per hour. Each unit of finished goods requires two direct labor-hours. g. The variable selling and administrative expense per unit sold is $1.80. The fixed selling and administrative expense per month is $67,000. 9. 96,250 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July? Raw material inventory balance Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $60. Budgeted unit sales for June, July, August, and September are 8,600, 17,000, 19,000, and 20,000 units, respectively, All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 25% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 5 pounds of raw materials. The raw materials cost $2.40 per pound. e. Thirty five percent of raw materials purchases are paid for in the month of purchase and 65% in the following month. f. The direct labor wage rate is $14 per hour Each unit of finished goods requires two direct lobor-hours. 9. The variable selling and administrative expense per unit sold is $180. The fixed selling and administrative expense per month is $67,000 10. What is the total estimated direct lobor cost for July? Total direct labor cost