2) What are the expected Cash Collections for July?

3) What is the accounts receivable balance at the end of July?

4) According to the production budget, how many units should be produced in July?

5) If 71,000 pounds of raw materials are needed to meet production in August, how many pounds of raw materials should be purchased in July?

6) What is the estimated cost of raw materials purchases for July?

7) if the cost of Raw material purchases in June is 93,040, what are the estimated cash disbursements for raw materials purchases in July?

8) What is the estimated accounts payable balance at the end of July?

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. 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 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 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 $1.30. The fixed selling and administrative expense per month is $62,000