10. What is the total estimated direct labor cost for July? 1. What are the budgeted sales for July? 4. According to the production budget, how many units should be produced in July? 3. What is the accounts receivable balance at the end of July? Answer is complete and correct. 11. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, What is the estimated unit product cost? (Round your onswer to 2 decimal ploces.) [The following information applies to the questions displayea Delow] 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 $70. Budgeted unit sales for June, July, August, and September are 8,500 , 16,000,18,000, and 19,000 units, respectively. All sales are on credit. b. Forty percent of credit sales are collected in the month of the sale and 60% in the following month. c. The ending finished goods inventory equals 20% 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 $200 per pound. e. Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month f. The direct labor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours. 9. The variable selling and administrative expense per unit sold is $170. The fixed selling and administrative expense per month is $66,000. 7 in July what are the total estimated cash disbursements tor caw materials purchoses? Assume the cost of raw material purchases in June is $106,400; and 91,000 pounds of taw materials are needed to meet production in August. 8. If 91.000 pounds of raw materials are needed to mect production in August, what is the estamated sccounts payable batance artine end of July? 12. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour: what is the estimated finished goodis inventory balance at the end of July? 6. If 91,000 pounds of raw materials are needed to meet production in August, what is the estirnated cost of raw materials purchises for July? 15. If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour, what is the estimated net operating income for July? 14. What is the estimated total selling and administrative expense for July? 13. If we assume that there is no foxed manufacturing overhead and the variable manufacturing overhead is $8 per direct labor-hour. What is the estimated cost of goods sold and gross margn for huly? 9. If 91,000 pounds of raw materials are needed to meet production in August, what is the estimated raw materials inventory balance at the end of July? 2. What are the expected cash collections for July? 5. If 91,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July
