13) What is the estimated cost of goods sold and gross margin for July, if the company always uses and estimated predetermined plantwide overhead rate of $8 per direct labor-hour?

14) What is the estimated total selling and administrative expense for July?

15) What is the estimated net operating income for July, if the company always uses and estimated predetermined plantwide overhead rate of $8 per direct labor-hour?

The following information applies to the questions displayed below Morganton Compeny makes one product and it provided the following information to help prepare the master budget for its first four months of operations a. The budgeted seling price per unit is $65. Budgeted unit sales for June, July, August, and September are 8,200, 12,000, 14,000, and 15,000 units, respectively. All sales are on credit b. Forty percent of credit sales are colected 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. Each unit of finished goods requires 5 pounds of raw materials. The raw meterials cost $2.00 per pound. e. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month. t. The direct lebor wage rate is $13 per hour. Each unit of finished goods requires two direct labor-hours g The variable selling and administrative expense per unit sold is $1.30. The fixed selling and administrative expense per month is $62,000. 0